EOG Resources (NYSE:EOG) Rating Lowered to Equal Weight at Barclays


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EOG Resources (NYSE:EOG) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Thursday, AR Network reports.

Several other research analysts have also commented on EOG. Royal Bank of Canada dropped their price target on EOG Resources from $69.00 to $63.00 in a research report on Friday, October 16th. Truist lifted their price target on EOG Resources from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, December 29th. Raymond James dropped their price target on EOG Resources from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. KeyCorp dropped their price target on EOG Resources from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Finally, Piper Sandler boosted their target price on EOG Resources from $51.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, November 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. EOG Resources presently has a consensus rating of “Buy” and a consensus target price of $62.75.

Shares of EOG Resources stock opened at $60.28 on Thursday. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of -115.31, a PEG ratio of 6.12 and a beta of 2.11. The business has a 50-day moving average price of $52.39 and a 200-day moving average price of $45.23. The company has a quick ratio of 1.47, a current ratio of 1.69 and a debt-to-equity ratio of 0.25. EOG Resources has a twelve month low of $27.00 and a twelve month high of $88.09.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.25. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.50 billion. EOG Resources had a positive return on equity of 5.86% and a negative net margin of 2.47%. The business’s quarterly revenue was down 47.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities analysts expect that EOG Resources will post 1.02 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of EOG. FMR LLC grew its stake in shares of EOG Resources by 83.1% in the 2nd quarter. FMR LLC now owns 3,936,443 shares of the energy exploration company’s stock valued at $199,420,000 after buying an additional 1,786,478 shares during the period. Sound Shore Management Inc CT purchased a new position in shares of EOG Resources during the 3rd quarter worth approximately $61,894,000. Natixis purchased a new position in shares of EOG Resources during the 3rd quarter worth approximately $37,863,000. Truist Financial Corp boosted its position in shares of EOG Resources by 829.9% during the 3rd quarter. Truist Financial Corp now owns 1,110,401 shares of the energy exploration company’s stock worth $39,907,000 after purchasing an additional 990,987 shares during the period. Finally, Boston Partners purchased a new position in shares of EOG Resources during the 3rd quarter worth approximately $33,613,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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