Piper Sandler Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective lowered by investment analysts at Piper Sandler from $129.00 to $124.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s target price points to a potential upside of 14.06% from the company’s current price.

EOG has been the subject of several other research reports. Susquehanna lifted their price target on shares of EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Scotiabank reaffirmed a “sector perform” rating and issued a $130.00 price objective on shares of EOG Resources in a research note on Friday, September 26th. KeyCorp dropped their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their price target on EOG Resources from $132.00 to $131.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada upped their price objective on EOG Resources from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $140.12.

EOG Resources Trading Down 0.7%

EOG traded down $0.77 during mid-day trading on Tuesday, reaching $108.71. The stock had a trading volume of 899,821 shares, compared to its average volume of 3,626,206. The firm’s fifty day simple moving average is $110.85 and its two-hundred day simple moving average is $115.47. The stock has a market capitalization of $58.99 billion, a P/E ratio of 10.56, a P/E/G ratio of 8.20 and a beta of 0.72. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.89 earnings per share. On average, equities analysts predict that EOG Resources will post 11.47 EPS for the current year.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently added to or reduced their stakes in EOG. Capital World Investors raised its stake in shares of EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock valued at $6,156,495,000 after purchasing an additional 782,426 shares during the period. Vanguard Group Inc. raised its position in EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock valued at $6,922,633,000 after buying an additional 348,895 shares during the last quarter. Capital Research Global Investors lifted its stake in EOG Resources by 0.5% in the 3rd quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock valued at $2,794,784,000 after acquiring an additional 122,486 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EOG Resources by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of EOG Resources by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock valued at $736,712,000 after acquiring an additional 249,984 shares in the last quarter. 89.91% of the stock is owned by 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.