EOG Resources (NYSE:EOG) Upgraded at StockNews.com

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

Several other research firms have also recently issued reports on EOG. Morgan Stanley raised their price target on shares of EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Scotiabank cut shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and raised their price target for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. Truist Financial decreased their price target on shares of EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research report on Tuesday, April 9th. Finally, Piper Sandler raised their target price on shares of EOG Resources from $141.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and a consensus price target of $142.19.

EOG Resources Price Performance

Shares of NYSE EOG opened at $134.80 on Monday. The stock has a market cap of $77.54 billion, a price-to-earnings ratio of 10.36 and a beta of 1.40. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The company’s 50-day moving average price is $124.34 and its 200 day moving average price is $122.26. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. EOG Resources’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. As a group, research analysts forecast that EOG Resources will post 12.07 earnings per share for the current fiscal year.

Institutional Trading of EOG Resources

A number of hedge funds have recently made changes to their positions in the company. Capital World Investors raised its stake in shares of 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 valued at $3,074,660,000 after purchasing an additional 9,455,621 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of EOG Resources by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,937,070 shares of the energy exploration company’s stock valued at $1,639,903,000 after purchasing an additional 145,691 shares during the period. Ameriprise Financial Inc. raised its stake in shares of 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 period. Morgan Stanley raised its stake in shares of EOG Resources by 1.5% during the third quarter. Morgan Stanley now owns 7,789,774 shares of the energy exploration company’s stock valued at $987,432,000 after purchasing an additional 116,860 shares during the period. Finally, Northern Trust Corp raised its stake in shares of EOG Resources by 3.1% during the third quarter. Northern Trust Corp now owns 6,260,706 shares of the energy exploration company’s stock valued at $793,607,000 after purchasing an additional 185,882 shares during the period. 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.