Citigroup Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price objective upped by Citigroup from $115.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy exploration company’s stock. Citigroup’s target price suggests a potential upside of 0.05% from the stock’s previous close.

EOG has been the topic of a number of other reports. Zacks Research raised shares of EOG Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. KeyCorp cut EOG Resources from an “overweight” rating to a “sector weight” rating in a research note on Friday, January 16th. Wells Fargo & Company raised their price target on EOG Resources from $127.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Morgan Stanley upped their price objective on EOG Resources from $128.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Truist Financial initiated coverage on EOG Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $146.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $140.81.

EOG Resources Trading Up 0.2%

NYSE:EOG traded up $0.36 during midday trading on Monday, hitting $149.92. 2,285,748 shares of the company traded hands, compared to its average volume of 5,342,323. The firm has a market capitalization of $80.43 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.48 and a beta of 0.44. The firm’s fifty day moving average is $123.33 and its 200-day moving average is $113.82. EOG Resources has a 12-month low of $101.59 and a 12-month high of $151.87. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the business posted $2.74 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources will post 11.47 EPS for the current year.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer owned 61,481 shares of the company’s stock, valued at approximately $7,685,125. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, the chief financial officer owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,532 shares of company stock worth $1,877,405 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of EOG Resources

A number of hedge funds have recently bought and sold shares of the stock. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth $25,000. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources during the fourth quarter valued at about $26,000. Nemes Rush Group LLC bought a new stake in shares of EOG Resources in the 4th quarter valued at about $30,000. Gen Wealth Partners Inc purchased a new position in shares of EOG Resources in the 4th quarter worth approximately $30,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of EOG Resources in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.