EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Barclays Analyst Says

EOG Resources (NYSE:EOG) had its price target hoisted by equities research analysts at Barclays from $155.00 to $168.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s target price points to a potential upside of 6.45% from the stock’s previous close.

Several other brokerages have also commented on EOG. Susquehanna restated a “positive” rating and set a $196.00 target price (up from $187.00) on shares of EOG Resources in a research report on Tuesday. Stifel Nicolaus started coverage on EOG Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $158.00 price target for the company. Mizuho set a $165.00 price objective on EOG Resources in a research note on Thursday, October 15th. The Goldman Sachs Group reissued a “neutral” rating and issued a $151.00 price target (up from $127.00) on shares of EOG Resources in a report on Monday, August 24th. Finally, Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $162.84.

EOG Resources Stock Up 1.4%

Shares of NYSE:EOG traded up $2.21 during trading on Friday, hitting $157.83. 390,841 shares of the company’s stock traded hands, compared to its average volume of 3,958,139. The company has a market cap of $81.83 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.54 and a beta of 0.27. EOG Resources has a 52 week low of $101.59 and a 52 week high of $165.93. The company has a 50-day moving average price of $149.80 and a 200-day moving average price of $138.73. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.42. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $7.26 billion. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The firm’s revenue was up 46.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 EPS. As a group, research analysts forecast that EOG Resources will post 17.96 EPS for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 7,336 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the transaction, the chief operating officer owned 90,790 shares of the company’s stock, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. Conscious Wealth Investments LLC grew its holdings in shares of EOG Resources by 2.2% during the third quarter. Conscious Wealth Investments LLC now owns 29,983 shares of the energy exploration company’s stock valued at $4,453,000 after buying an additional 636 shares during the last quarter. Xcelsior Advisor Partners LLC boosted its stake in EOG Resources by 317.2% during the 3rd quarter. Xcelsior Advisor Partners LLC now owns 35,759 shares of the energy exploration company’s stock valued at $4,926,000 after purchasing an additional 27,187 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in EOG Resources by 11.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,361 shares of the energy exploration company’s stock valued at $2,805,000 after purchasing an additional 2,073 shares during the last quarter. Essex Financial Services Inc. increased its holdings in EOG Resources by 8.1% during the 3rd quarter. Essex Financial Services Inc. now owns 5,181 shares of the energy exploration company’s stock worth $714,000 after purchasing an additional 386 shares in the last quarter. Finally, Polymer Capital Management US LLC raised its stake in shares of EOG Resources by 635.8% in the third quarter. Polymer Capital Management US LLC now owns 13,318 shares of the energy exploration company’s stock worth $1,835,000 after purchasing an additional 11,508 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.