Morgan Stanley Lowers EOG Resources (NYSE:EOG) Price Target to $151.00

EOG Resources (NYSE:EOGGet Rating) had its target price dropped by equities research analysts at Morgan Stanley from $152.00 to $151.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target suggests a potential upside of 43.03% from the company’s previous close.

EOG has been the subject of several other research reports. KeyCorp increased their target price on EOG Resources from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 26th. TD Securities downgraded EOG Resources from a “buy” rating to a “hold” rating and raised their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, March 24th. Johnson Rice upgraded EOG Resources from a “hold” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $165.00 in a research report on Tuesday, May 24th. Susquehanna raised their price objective on EOG Resources from $135.00 to $147.00 in a research report on Monday, April 25th. Finally, StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.53.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $105.57 on Tuesday. The business has a 50 day moving average price of $120.41 and a 200 day moving average price of $116.33. EOG Resources has a twelve month low of $62.81 and a twelve month high of $147.99. The company has a market cap of $61.83 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.20 and a beta of 1.69. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

EOG Resources (NYSE:EOGGet Rating) last announced its earnings results on Thursday, May 5th. The energy exploration company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.31. EOG Resources had a return on equity of 29.77% and a net margin of 23.12%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that EOG Resources will post 16.62 earnings per share for the current year.

Insider Activity

In other news, EVP Kenneth W. Boedeker sold 1,006 shares of EOG Resources stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $142.32, for a total value of $143,173.92. Following the completion of the sale, the executive vice president now directly owns 16,880 shares of the company’s stock, valued at approximately $2,402,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Timothy K. Driggers sold 3,484 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $135.51, for a total value of $472,116.84. Following the transaction, the chief financial officer now directly owns 214,691 shares in the company, valued at approximately $29,092,777.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth W. Boedeker sold 1,006 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $142.32, for a total value of $143,173.92. Following the completion of the transaction, the executive vice president now owns 16,880 shares in the company, valued at $2,402,361.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,395 shares of company stock valued at $883,134. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Householder Group Estate & Retirement Specialist LLC lifted its holdings in EOG Resources by 1.5% during the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 6,028 shares of the energy exploration company’s stock worth $719,000 after acquiring an additional 91 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in EOG Resources by 1.1% during the first quarter. Desjardins Global Asset Management Inc. now owns 8,411 shares of the energy exploration company’s stock worth $1,002,000 after acquiring an additional 92 shares in the last quarter. Trust Investment Advisors lifted its holdings in EOG Resources by 1.9% during the fourth quarter. Trust Investment Advisors now owns 5,201 shares of the energy exploration company’s stock worth $462,000 after acquiring an additional 98 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in EOG Resources by 1.2% during the fourth quarter. J.W. Cole Advisors Inc. now owns 8,547 shares of the energy exploration company’s stock worth $759,000 after acquiring an additional 101 shares in the last quarter. Finally, Shaker Investments LLC OH lifted its holdings in EOG Resources by 0.7% during the fourth quarter. Shaker Investments LLC OH now owns 13,890 shares of the energy exploration company’s stock worth $1,234,000 after acquiring an additional 103 shares in the last quarter. 85.87% of the stock is currently owned by institutional investors.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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