EOG Resources (NYSE:EOG) Raised to Buy at StockNews.com

EOG Resources (NYSE:EOG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also weighed in on the stock. Morgan Stanley boosted their target price on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Citigroup boosted their price objective on shares of EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Barclays began coverage on shares of EOG Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 target price on the stock. TD Cowen lifted their target price on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Susquehanna increased their price target on EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Thirteen 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $142.27.

EOG Resources Stock Down 3.0 %

Shares of EOG Resources stock opened at $132.13 on Wednesday. The business has a 50-day moving average price of $126.53 and a 200 day moving average price of $122.48. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The firm has a market cap of $76.00 billion, a P/E ratio of 10.16 and a beta of 1.40. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. EOG Resources’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. On average, sell-side analysts forecast that EOG Resources will post 12.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors grew its holdings in EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of EOG Resources by 26.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after purchasing an additional 1,029,727 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of EOG Resources by 863.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,100,068 shares of the energy exploration company’s stock worth $139,445,000 after purchasing an additional 985,884 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in EOG Resources by 8.4% during the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after purchasing an additional 892,951 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in EOG Resources during the third quarter worth approximately $71,596,000. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

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.