JPMorgan Chase & Co. Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $148.00 to $142.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.59% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Sanford C. Bernstein decreased their price target on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 20th. The Goldman Sachs Group increased their target price on shares of EOG Resources from $135.00 to $139.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Citigroup reissued a “neutral” rating and set a $147.00 price target (up from $142.00) on shares of EOG Resources in a research report on Wednesday, May 20th. Finally, Zacks Research lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $155.29.

EOG Resources Stock Up 0.0%

EOG Resources stock opened at $131.98 on Tuesday. The company’s 50-day moving average price is $135.78 and its two-hundred day moving average price is $125.81. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The stock has a market cap of $70.30 billion, a P/E ratio of 13.02 and a beta of 0.25. EOG Resources has a twelve month low of $101.59 and a twelve month high of $151.87.

EOG Resources (NYSE:EOG) last posted its earnings results 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. The company had revenue of $6.92 billion for 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 firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 earnings per share. As a group, analysts expect that EOG Resources will post 16.64 EPS for the current year.

Institutional Trading of EOG Resources

A number of large investors have recently bought and sold shares of EOG. Legal & General Group Plc boosted its position in shares of EOG Resources by 2.1% during the third quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company’s stock valued at $380,562,000 after buying an additional 68,888 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of EOG Resources by 66.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company’s stock worth $2,073,000 after purchasing an additional 7,877 shares during the period. L2 Asset Management LLC increased its holdings in EOG Resources by 69.6% during the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company’s stock worth $2,170,000 after buying an additional 7,940 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in EOG Resources by 2.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock worth $123,451,000 after acquiring an additional 24,984 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co boosted its stake in EOG Resources by 39.2% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock valued at $9,136,000 after acquiring an additional 24,500 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.