EOG Resources (EOG) Given New $118.00 Price Target at Morgan Stanley

EOG Resources (NYSE:EOG) had its price target lowered by Morgan Stanley from $133.00 to $118.00 in a report released on Tuesday. The brokerage currently has a hold rating on the energy exploration company’s stock.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of EOG Resources from a buy rating to a hold rating in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $138.00 target price on shares of EOG Resources and gave the stock a buy rating in a research report on Sunday, September 30th. Wells Fargo & Co assumed coverage on shares of EOG Resources in a research report on Wednesday, October 24th. They set a market perform rating and a $154.00 target price on the stock. ValuEngine lowered shares of EOG Resources from a buy rating to a hold rating in a research report on Friday, October 26th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $140.00 target price on shares of EOG Resources in a research report on Thursday, October 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $137.61.

EOG Resources stock opened at $100.70 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.92 and a current ratio of 1.09. EOG Resources has a 1-year low of $96.54 and a 1-year high of $133.53. The stock has a market capitalization of $61.47 billion, a P/E ratio of 89.91, a PEG ratio of 1.27 and a beta of 1.16.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, November 2nd. The energy exploration company reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.19. EOG Resources had a net margin of 30.90% and a return on equity of 16.79%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 80.8% on a year-over-year basis. Sell-side analysts expect that EOG Resources will post 5.89 EPS for the current fiscal year.

In related news, EVP David W. Trice sold 2,489 shares of EOG Resources stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 74,807 shares of the company’s stock, valued at $9,533,404.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 1,792 shares of EOG Resources stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $116.80, for a total transaction of $209,305.60. Following the transaction, the director now directly owns 49,741 shares in the company, valued at $5,809,748.80. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

A number of hedge funds have recently modified their holdings of EOG. NuWave Investment Management LLC boosted its stake in EOG Resources by 2,366.7% in the third quarter. NuWave Investment Management LLC now owns 1,184 shares of the energy exploration company’s stock valued at $151,000 after acquiring an additional 1,136 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in EOG Resources in the second quarter valued at approximately $158,000. Resources Management Corp CT ADV acquired a new stake in EOG Resources in the third quarter valued at approximately $158,000. Kaizen Advisory LLC boosted its stake in EOG Resources by 133.6% in the second quarter. Kaizen Advisory LLC now owns 1,301 shares of the energy exploration company’s stock valued at $162,000 after acquiring an additional 744 shares in the last quarter. Finally, ELM Advisors LLC acquired a new stake in EOG Resources in the third quarter valued at approximately $162,000. 85.65% of the stock is currently owned by institutional investors.

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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