EOG Resources (NYSE:EOG) Price Target Cut to $155.00 by Analysts at Sanford C. Bernstein

EOG Resources (NYSE:EOG) had its target price reduced by equities research analysts at Sanford C. Bernstein from $167.00 to $155.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “market perform” rating on the energy exploration company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 6.79% from the company’s current price.

Other analysts have also issued reports about the company. Wolfe Research raised their price objective on EOG Resources from $152.00 to $154.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Capital One Financial boosted their target price on shares of EOG Resources from $130.00 to $161.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Citigroup reissued a “neutral” rating and issued a $147.00 price target (up from $142.00) on shares of EOG Resources in a report on Wednesday. Morgan Stanley raised their target price on EOG Resources from $128.00 to $155.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Zacks Research raised EOG Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $154.38.

EOG Resources Stock Up 0.6%

EOG opened at $145.15 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87. The business’s fifty day simple moving average is $137.28 and its 200 day simple moving average is $120.04. The stock has a market cap of $77.31 billion, a PE ratio of 14.20 and a beta of 0.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts expect that EOG Resources will post 14.83 earnings per share for the current fiscal year.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the sale, the chief financial officer directly owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,230 shares of company stock valued at $2,522,568 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in EOG Resources in the 1st quarter valued at approximately $494,000. Royal Fund Management LLC boosted its position in shares of EOG Resources by 17.6% during the first quarter. Royal Fund Management LLC now owns 10,710 shares of the energy exploration company’s stock worth $1,548,000 after buying an additional 1,605 shares during the period. Janus Henderson Group PLC grew its holdings in shares of EOG Resources by 135.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,063,813 shares of the energy exploration company’s stock worth $153,785,000 after acquiring an additional 611,036 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in EOG Resources during the first quarter valued at $463,000. Finally, Strategic Investment Advisors MI bought a new position in EOG Resources in the 1st quarter worth approximately $109,000. 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.