EOG Resources (NYSE:EOG) Earns “Buy” Rating from UBS Group

EOG Resources (NYSE:EOG)‘s stock had its “buy” rating reiterated by stock analysts at UBS Group in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $140.00 price objective on the energy exploration company’s stock, up from their prior price objective of $135.00. UBS Group’s price target suggests a potential upside of 22.94% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Mizuho decreased their target price on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. Susquehanna cut their price target on EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup lowered their price objective on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.58.

EOG Resources Stock Performance

Shares of NYSE EOG traded up $2.85 during trading hours on Tuesday, reaching $113.88. The stock had a trading volume of 1,152,119 shares, compared to its average volume of 3,268,075. The firm has a 50-day moving average of $111.81 and a 200-day moving average of $122.56. The firm has a market cap of $62.15 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 3.58 and a beta of 0.78. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. EOG Resources’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. Equities research analysts predict that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mountain Lake Investment Management LLC acquired a new position in shares of EOG Resources in the fourth quarter worth $735,000. Silvercrest Asset Management Group LLC increased its position in EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company’s stock worth $101,256,000 after purchasing an additional 106,677 shares in the last quarter. Tobam acquired a new position in EOG Resources in the 4th quarter valued at about $352,000. Marble Harbor Investment Counsel LLC lifted its holdings in EOG Resources by 3.2% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company’s stock valued at $12,630,000 after purchasing an additional 3,150 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of EOG Resources by 10.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,112 shares of the energy exploration company’s stock worth $14,601,000 after purchasing an additional 10,910 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other 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.