Stifel Nicolaus Lowers EOG Resources (NYSE:EOG) Price Target to $150.00

EOG Resources (NYSE:EOG) had its target price reduced by stock analysts at Stifel Nicolaus from $153.00 to $150.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy exploration company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 11.04% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research report on Tuesday, April 9th. Bank of America downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $147.00 to $140.00 in a report on Friday, January 5th. Citigroup raised their price objective on shares of EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. KeyCorp lifted their price objective on EOG Resources from $147.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.19.

EOG Resources Price Performance

Shares of NYSE:EOG traded up $1.19 on Tuesday, reaching $135.09. 717,027 shares of the company were exchanged, compared to its average volume of 3,376,128. The company has a 50-day moving average of $123.87 and a 200-day moving average of $122.16. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $77.71 billion, a price-to-earnings ratio of 10.37 and a beta of 1.40. EOG Resources has a 1-year low of $106.32 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last issued its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $3.30 earnings per share. Equities analysts forecast that EOG Resources will post 12.07 earnings per share for the current fiscal year.

Institutional Trading of EOG Resources

Institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in EOG Resources during the third quarter worth about $4,431,000. TIAA Trust National Association increased its position in EOG Resources by 639.3% during the 4th quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock worth $6,971,000 after purchasing an additional 49,840 shares in the last quarter. AIA Group Ltd raised its holdings in EOG Resources by 128.0% in the fourth quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock valued at $1,234,000 after buying an additional 5,728 shares during the period. L. Roy Papp & Associates LLP lifted its position in EOG Resources by 18.3% during the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock valued at $20,362,000 after buying an additional 26,026 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its position in EOG Resources by 9.3% during the fourth quarter. NewEdge Wealth LLC now owns 115,960 shares of the energy exploration company’s stock valued at $14,025,000 after buying an additional 9,837 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.