Investment analysts at Stephens began coverage on shares of EOG Resources (NYSE:EOG – Get Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $137.00 price target on the energy exploration company’s stock. Stephens’ price target would indicate a potential upside of 10.67% from the stock’s current price.
EOG has been the topic of several other research reports. Bank of America dropped their price target on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Susquehanna dropped their target price on EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Raymond James Financial raised their price objective on EOG Resources from $148.00 to $158.00 and gave the company a “strong-buy” rating in a research note on Monday, June 2nd. Finally, Barclays upped their target price on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.95.
Check Out Our Latest Report on EOG Resources
EOG Resources Price Performance
EOG Resources (NYSE:EOG – Get Free Report) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the business posted $2.82 EPS. The business’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts expect that EOG Resources will post 11.47 EPS for the current year.
Insider Buying and Selling
In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On EOG Resources
Hedge funds have recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at $25,000. Banque Cantonale Vaudoise acquired a new stake in EOG Resources during the 1st quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new stake in EOG Resources during the fourth quarter valued at about $28,000. Saudi Central Bank acquired a new position in shares of EOG Resources in the first quarter worth about $28,000. Finally, Heritage Wealth Advisors increased its position in shares of EOG Resources by 562.2% in the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.
EOG Resources Company Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.
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