EOG Resources (NYSE:EOG) Earns “Buy” Rating from Jefferies Financial Group

EOG Resources (NYSE:EOG)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Financial Group in a research report issued on Friday, MarketBeat reports. They presently have a $148.00 price target on the energy exploration company’s stock, up from their prior price target of $144.00. Jefferies Financial Group’s price target would indicate a potential upside of 20.57% from the company’s current price.

EOG has been the topic of several other research reports. Wells Fargo & Company decreased their target price on EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Citigroup lowered their price objective on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Raymond James increased their target price on shares of EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a report on Monday, June 2nd. KeyCorp dropped their price target on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Scotiabank raised EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and an average target price of $140.10.

EOG Resources Trading Down 2.0%

EOG Resources stock traded down $2.53 during midday trading on Friday, hitting $122.75. 2,160,397 shares of the stock were exchanged, compared to its average volume of 3,325,065. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $67.00 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 3.58 and a beta of 0.74. The stock’s 50-day simple moving average is $111.99 and its 200 day simple moving average is $121.75. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the business posted $2.82 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mainstream Capital Management LLC acquired a new position in shares of EOG Resources in the fourth quarter worth about $25,000. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources during the first quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in EOG Resources in the fourth quarter worth approximately $28,000. Saudi Central Bank acquired a new position in shares of EOG Resources in the 1st quarter worth approximately $28,000. Finally, Heritage Wealth Advisors lifted its holdings in shares of EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

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.