Morgan Stanley Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective cut by investment analysts at Morgan Stanley from $160.00 to $156.00 in a note issued to investors on Friday,MarketScreener reports. Morgan Stanley’s target price suggests a potential upside of 17.61% from the stock’s current price.

A number of other brokerages have also recently weighed in on EOG. Williams Trading set a $177.00 price target on shares of EOG Resources in a research report on Monday, April 20th. Citigroup restated a “neutral” rating and issued a $147.00 price objective (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Piper Sandler lifted their target price on shares of EOG Resources from $144.00 to $147.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Barclays boosted their target price on EOG Resources from $140.00 to $153.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised their price target on EOG Resources from $135.00 to $139.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.86.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $132.64 on Friday. 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 $135.81 and its 200-day simple moving average is $125.55. The firm has a market cap of $70.65 billion, a PE ratio of 13.06 and a beta of 0.25. 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 (NYSE:EOG) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $2.87 EPS. Equities analysts forecast that EOG Resources will post 16.64 earnings per share for the current year.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Trading of EOG Resources

A number of institutional investors have recently bought and sold shares of the business. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources in the 2nd quarter valued at about $258,000. Quantbot Technologies LP acquired a new position in shares of EOG Resources in the 2nd quarter valued at $349,000. Gamco Investors INC. ET AL grew its position in shares of EOG Resources by 216.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after buying an additional 4,485 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of EOG Resources by 2.0% in the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock valued at $2,725,000 after buying an additional 444 shares during the last quarter. Finally, Sei Investments Co. raised its stake in EOG Resources by 4.4% during the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after acquiring an additional 15,250 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 (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.