Morgan Stanley Reiterates “$135.00” Price Target for EOG Resources (NYSE:EOG)

EOG Resources (NYSE:EOG) received a $135.00 price target from equities research analysts at Morgan Stanley in a report released on Monday, Marketbeat Ratings reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s target price points to a potential upside of 18.56% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Barclays dropped their price target on shares of EOG Resources from $140.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company decreased their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler cut their target price on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.58.

EOG Resources Price Performance

EOG Resources stock traded up $2.84 during midday trading on Monday, reaching $113.87. The company’s stock had a trading volume of 1,152,119 shares, compared to its average volume of 3,268,075. The stock’s 50 day simple moving average is $111.81 and its 200 day simple moving average is $122.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market capitalization of $62.15 billion, a PE ratio of 9.17, a P/E/G ratio of 3.58 and a beta of 0.78. 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 issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. EOG Resources’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of EOG Resources

Several hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in EOG Resources in the 4th quarter valued at about $78,000. Capital Insight Partners LLC increased its stake in shares of EOG Resources by 7.2% during the fourth quarter. Capital Insight Partners LLC now owns 4,702 shares of the energy exploration company’s stock valued at $576,000 after acquiring an additional 315 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in EOG Resources by 2.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,398 shares of the energy exploration company’s stock worth $4,339,000 after purchasing an additional 693 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of EOG Resources by 13.5% during the 4th quarter. CENTRAL TRUST Co now owns 12,055 shares of the energy exploration company’s stock valued at $1,478,000 after purchasing an additional 1,431 shares during the period. Finally, Burford Brothers Inc. raised its stake in shares of EOG Resources by 5.6% in the 4th quarter. Burford Brothers Inc. now owns 7,469 shares of the energy exploration company’s stock worth $916,000 after buying an additional 396 shares in the last quarter. 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.