Barclays Cuts EOG Resources (NYSE:EOG) Price Target to $132.00

EOG Resources (NYSE:EOG) had its price objective reduced by equities research analysts at Barclays from $146.00 to $132.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the energy exploration company’s stock. Barclays‘s price objective would indicate a potential upside of 76.33% from the stock’s previous close.

Several other research firms have also issued reports on EOG. Morgan Stanley lowered their target price on shares of EOG Resources from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. Guggenheim set a $108.00 price target on shares of EOG Resources and gave the stock a “buy” rating in a research note on Wednesday, August 21st. ValuEngine raised shares of EOG Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $109.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Finally, Oppenheimer reduced their price target on shares of EOG Resources from $111.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $108.50.

Shares of EOG Resources stock traded up $0.12 during trading on Thursday, hitting $74.86. The stock had a trading volume of 1,653,810 shares, compared to its average volume of 4,597,407. The firm’s fifty day simple moving average is $71.96 and its 200-day simple moving average is $82.49. The stock has a market cap of $42.97 billion, a PE ratio of 13.51, a PEG ratio of 1.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 0.83. EOG Resources has a 12 month low of $64.33 and a 12 month high of $108.95.

EOG Resources (NYSE:EOG) last released its earnings results on Wednesday, November 6th. The energy exploration company reported $1.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.13. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. EOG Resources had a net margin of 19.69% and a return on equity of 16.25%. The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.75 EPS. Analysts expect that EOG Resources will post 4.79 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Douglas Lane & Associates LLC grew its position in shares of EOG Resources by 23.5% in the 3rd quarter. Douglas Lane & Associates LLC now owns 349,845 shares of the energy exploration company’s stock worth $25,966,000 after buying an additional 66,551 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of EOG Resources by 5.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,773 shares of the energy exploration company’s stock worth $724,000 after buying an additional 413 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of EOG Resources by 12.7% in the 2nd quarter. Wedbush Securities Inc. now owns 3,116 shares of the energy exploration company’s stock worth $290,000 after buying an additional 351 shares during the last quarter. Security National Bank grew its position in shares of EOG Resources by 7.7% in the 3rd quarter. Security National Bank now owns 37,361 shares of the energy exploration company’s stock worth $2,773,000 after buying an additional 2,673 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of EOG Resources by 30.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,195 shares of the energy exploration company’s stock worth $13,433,000 after buying an additional 33,753 shares during the last quarter. 86.33% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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