EOG Resources (EOG) Cut to Sell at ValuEngine

EOG Resources (NYSE:EOG) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of EOG Resources from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Co began coverage on shares of EOG Resources in a research note on Wednesday, October 24th. They set a “market perform” rating and a $154.00 target price on the stock. Piper Jaffray Companies set a $156.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of EOG Resources from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, October 23rd. Finally, Morgan Stanley set a $132.00 target price on shares of EOG Resources and gave the stock a “hold” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $138.82.

EOG traded down $4.54 during trading hours on Friday, hitting $102.35. 6,514,457 shares of the company’s stock were exchanged, compared to its average volume of 3,261,031. EOG Resources has a 12-month low of $96.54 and a 12-month high of $133.53. The company has a market cap of $61.11 billion, a P/E ratio of 91.38, a PEG ratio of 1.17 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 1st. The energy exploration company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.19. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 80.8% on a year-over-year basis. Research analysts forecast that EOG Resources will post 5.83 earnings per share for the current year.

In other news, Director Charles R. Crisp sold 1,792 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $116.80, for a total value of $209,305.60. Following the completion of the transaction, the director now owns 49,741 shares in the company, valued at approximately $5,809,748.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David W. Trice sold 2,489 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $127.44, for a total transaction of $317,198.16. Following the completion of the transaction, the executive vice president now owns 74,807 shares of the company’s stock, valued at approximately $9,533,404.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,346 shares of company stock worth $7,508,977. Insiders own 0.51% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Summit Global Investments boosted its holdings in shares of EOG Resources by 574.0% in the 2nd quarter. Summit Global Investments now owns 35,384 shares of the energy exploration company’s stock valued at $4,403,000 after buying an additional 30,134 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in shares of EOG Resources by 11.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 17,520 shares of the energy exploration company’s stock valued at $2,180,000 after buying an additional 1,815 shares in the last quarter. Security National Bank boosted its holdings in shares of EOG Resources by 2.3% in the 3rd quarter. Security National Bank now owns 28,860 shares of the energy exploration company’s stock valued at $3,682,000 after buying an additional 649 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of EOG Resources in the 2nd quarter valued at $12,530,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of EOG Resources by 5.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,666 shares of the energy exploration company’s stock valued at $1,576,000 after buying an additional 692 shares in the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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