EOG Resources, Inc. (NYSE:EOG) PT Set at $102.00 by Scotiabank

EOG Resources, Inc. (NYSE:EOG) has been assigned a $102.00 target price by Scotiabank in a report issued on Friday. The firm currently has a “hold” rating on the energy exploration company’s stock. Scotiabank’s price objective points to a potential upside of 15.22% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays PLC restated an “overweight” rating and set a $101.00 price objective (up previously from $94.00) on shares of EOG Resources in a research note on Wednesday. Zacks Investment Research upgraded EOG Resources from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BMO Capital Markets restated a “buy” rating and set a $95.00 price objective on shares of EOG Resources in a research note on Friday, August 4th. BidaskClub raised EOG Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Citigroup Inc. downgraded EOG Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $98.00 in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $108.31.

Shares of EOG Resources (NYSE EOG) opened at 88.53 on Friday. EOG Resources has a 52 week low of $85.88 and a 52 week high of $109.37. The firm’s market cap is $51.12 billion. The stock’s 50 day moving average is $91.31 and its 200-day moving average is $94.17.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business earned ($0.38) EPS. EOG Resources’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities analysts predict that EOG Resources will post $0.59 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of EOG Resources by 2.6% in the second quarter. Vanguard Group Inc. now owns 41,179,515 shares of the energy exploration company’s stock valued at $3,727,570,000 after buying an additional 1,058,276 shares during the period. BlackRock Inc. boosted its position in shares of EOG Resources by 2,098.0% in the first quarter. BlackRock Inc. now owns 35,740,352 shares of the energy exploration company’s stock valued at $3,486,473,000 after buying an additional 34,114,299 shares during the period. Northern Trust Corp boosted its position in shares of EOG Resources by 8.7% in the second quarter. Northern Trust Corp now owns 8,001,255 shares of the energy exploration company’s stock valued at $724,272,000 after buying an additional 638,183 shares during the period. Jennison Associates LLC boosted its position in shares of EOG Resources by 35.3% in the first quarter. Jennison Associates LLC now owns 6,971,347 shares of the energy exploration company’s stock valued at $680,055,000 after buying an additional 1,816,980 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of EOG Resources by 8.0% in the second quarter. Alliancebernstein L.P. now owns 6,914,602 shares of the energy exploration company’s stock valued at $625,910,000 after buying an additional 511,099 shares during the period. Institutional investors own 85.14% of the company’s stock.

About EOG Resources

EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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