Wolfe Research Cuts EOG Resources (NYSE:EOG) Price Target to $138.00

EOG Resources (NYSE:EOG) had its price objective lowered by Wolfe Research from $139.00 to $138.00 in a research report released on Wednesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the energy exploration company’s stock.

A number of other research analysts also recently issued reports on EOG. Argus downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 25th. Royal Bank Of Canada decreased their price objective on EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Piper Sandler lowered their target price on EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Raymond James Financial raised their target price on EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 22nd. Finally, Stephens started coverage on EOG Resources in a report on Tuesday, June 17th. They issued an “equal weight” rating and a $137.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.14.

EOG Resources Trading Up 0.2%

EOG Resources stock opened at $110.66 on Wednesday. The stock has a 50-day moving average price of $118.46 and a 200 day moving average price of $117.27. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 8.48 and a beta of 0.74. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the firm posted $3.16 EPS. EOG Resources’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new position in EOG Resources during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 219 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of EOG Resources during the first quarter worth about $28,000. Raleigh Capital Management Inc. acquired a new position in shares of EOG Resources during the 2nd quarter worth about $29,000. Finally, Alpine Bank Wealth Management purchased a new position in EOG Resources in the 1st quarter valued at about $34,000. 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.