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

EOG Resources (NYSE:EOG) had its price target dropped by analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a research report issued on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.22% from the company’s previous close.

Other analysts have also issued research reports about the stock. Wolfe Research cut their target price on shares of EOG Resources from $138.00 to $134.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Siebert Williams Shank cut their price objective on EOG Resources from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Zacks Research lowered EOG Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group lowered their target price on EOG Resources from $125.00 to $123.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Citigroup reiterated a “neutral” rating and issued a $115.00 target price (down from $125.00) on shares of EOG Resources in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $134.67.

EOG Resources Stock Performance

EOG Resources stock opened at $108.26 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The stock has a market cap of $58.74 billion, a PE ratio of 10.78, a P/E/G ratio of 9.00 and a beta of 0.49. EOG Resources has a 12-month low of $101.59 and a 12-month high of $135.87. The business’s 50-day moving average price is $106.68 and its two-hundred day moving average price is $112.15.

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

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the transaction, the chief operating officer directly owned 54,979 shares of the company’s stock, valued at $5,810,180.72. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EOG. Cullen Capital Management LLC increased its stake in EOG Resources by 4.7% in the second quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company’s stock valued at $68,952,000 after purchasing an additional 25,753 shares in the last quarter. Kiker Wealth Management LLC bought a new position in shares of EOG Resources during the 2nd quarter worth about $627,000. Railway Pension Investments Ltd grew its stake in shares of EOG Resources by 6.9% in the 2nd quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock valued at $53,717,000 after buying an additional 28,800 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in EOG Resources by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock valued at $7,386,000 after buying an additional 5,156 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in EOG Resources by 11.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 172,617 shares of the energy exploration company’s stock valued at $19,354,000 after buying an additional 17,195 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.