EOG Resources (NYSE:EOG) Stock Gets Price Target Increase from Truist Financial

EOG Resources (NYSE:EOG) had its target price hoisted by equities researchers at Truist Financial from $153.00 to $160.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price indicates a potential upside of 13.45% from the stock’s current price.

A number of other equities research analysts have also recently commented on EOG. Raymond James Financial reiterated a “strong-buy” rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a research note on Thursday, September 17th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Barclays set a $147.00 price objective on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, August 17th. Capital One Financial cut shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price on the stock. in a research note on Wednesday, August 26th. Finally, Susquehanna reissued a “positive” rating and set a $170.00 target price (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $158.37.

EOG Resources Stock Performance

Shares of EOG traded down $0.28 on Friday, reaching $141.03. 568,263 shares of the company’s stock traded hands, compared to its average volume of 4,098,820. The stock’s 50 day simple moving average is $144.42 and its two-hundred day simple moving average is $139.65. The stock has a market cap of $73.97 billion, a PE ratio of 10.98, a PEG ratio of 0.51 and a beta of 0.36. EOG Resources has a 52-week low of $101.59 and a 52-week high of $154.16. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 earnings per share. On average, analysts forecast that EOG Resources will post 16.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ezra Yacob sold 35,942 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of EOG Resources stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value 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. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. increased its position in shares of EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 124 shares during the period. Nemes Rush Group LLC bought a new position in shares of EOG Resources in the fourth quarter valued at approximately $30,000. Financial Life Planners purchased a new position in EOG Resources during the first quarter valued at approximately $30,000. Wedbush Fund Advisers LLC purchased a new position in EOG Resources during the second quarter valued at approximately $31,000. Finally, Global Assets Advisory LLC bought a new stake in EOG Resources during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.