The Goldman Sachs Group Cuts EOG Resources (NYSE:EOG) Price Target to $129.00

EOG Resources (NYSE:EOG) had its price objective dropped by equities researchers at The Goldman Sachs Group from $139.00 to $129.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the energy exploration company’s stock. The Goldman Sachs Group’s target price points to a potential downside of 2.26% from the company’s current price.

EOG has been the topic of a number of other research reports. Royal Bank Of Canada boosted their target price on shares of EOG Resources from $138.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Citigroup reiterated a “neutral” rating and issued a $147.00 price target (up from $142.00) on shares of EOG Resources in a research note on Wednesday, May 20th. Zacks Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Raymond James Financial dropped their price objective on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. Finally, Scotiabank upped their price objective on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average target price of $155.29.

EOG Resources Price Performance

EOG stock opened at $131.98 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources has a 1 year low of $101.59 and a 1 year high of $151.87. The firm has a 50-day moving average of $135.78 and a 200 day moving average of $125.81. The company has a market cap of $70.30 billion, a P/E ratio of 13.02 and a beta of 0.25.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 EPS. On average, sell-side analysts forecast that EOG Resources will post 16.64 EPS for the current year.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of EOG. Capital World Investors grew its holdings in shares of EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock worth $6,156,495,000 after acquiring an additional 782,426 shares during the period. Vanguard Group Inc. lifted its holdings in EOG Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock valued at $5,651,172,000 after acquiring an additional 446,341 shares during the period. State Street Corp boosted its position in EOG Resources by 0.3% in the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock worth $3,209,365,000 after purchasing an additional 100,080 shares during the last quarter. Capital Research Global Investors boosted its position in EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock worth $2,794,784,000 after purchasing an additional 122,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of EOG Resources by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after purchasing an additional 371,548 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.