JPMorgan Chase & Co. Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $131.00 to $121.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.70% from the stock’s current price.

A number of other brokerages have also issued reports on EOG. Raymond James Financial reissued a “strong-buy” rating and issued a $153.00 price target on shares of EOG Resources in a research note on Wednesday, December 3rd. UBS Group increased their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Jefferies Financial Group set a $145.00 target price on shares of EOG Resources in a research report on Sunday, October 12th. BMO Capital Markets dropped their price target on shares of EOG Resources from $134.00 to $130.00 in a research report on Tuesday, November 11th. Finally, Johnson Rice cut their price target on shares of EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.50.

EOG Resources Stock Down 1.2%

EOG stock opened at $109.30 on Monday. The company has a 50 day moving average price of $108.07 and a two-hundred day moving average price of $115.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62. The stock has a market capitalization of $59.31 billion, a P/E ratio of 10.89, a PEG ratio of 8.35 and a beta of 0.49. EOG Resources has a one year low of $102.52 and a one year high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.89 earnings per share. As a group, sell-side analysts expect that EOG Resources will post 11.47 EPS for the current year.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in EOG. Capital World Investors raised its position in EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock valued at $6,156,495,000 after purchasing an additional 782,426 shares during the period. Capital Research Global Investors grew its stake in shares of EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock valued at $2,794,784,000 after buying an additional 122,486 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of EOG Resources by 4.2% in the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock valued at $736,712,000 after buying an additional 249,984 shares in the last quarter. Northern Trust Corp raised its holdings in shares of EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after buying an additional 358,916 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in EOG Resources by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,972,687 shares of the energy exploration company’s stock worth $669,727,000 after acquiring an additional 344,291 shares in the last quarter. Hedge funds and other institutional investors 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.