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

EOG Resources (NYSE:EOG) had its price target dropped by analysts at Morgan Stanley from $142.00 to $136.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s target price would suggest a potential upside of 7.21% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Truist Financial increased their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Citigroup reduced their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Mizuho reiterated a “neutral” rating and issued a $140.00 target price (down previously from $148.00) on shares of EOG Resources in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Trading Down 1.8 %

NYSE:EOG traded down $2.33 during midday trading on Thursday, hitting $126.85. The stock had a trading volume of 640,835 shares, compared to its average volume of 3,345,554. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $128.65 and a 200 day moving average of $127.61. The company has a market capitalization of $70.27 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 3.58 and a beta of 1.25. EOG Resources has a one year low of $115.78 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. As a group, sell-side analysts forecast that EOG Resources will post 11.47 EPS for the current year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.

Institutional Trading of EOG Resources

A number of hedge funds have recently added to or reduced their stakes in EOG. 111 Capital purchased a new stake in shares of EOG Resources during the 4th quarter worth about $680,000. PKO Investment Management Joint Stock Co acquired a new position in EOG Resources in the 4th quarter worth about $2,121,000. Audent Global Asset Management LLC boosted its position in EOG Resources by 427.3% during the fourth quarter. Audent Global Asset Management LLC now owns 12,639 shares of the energy exploration company’s stock worth $1,549,000 after purchasing an additional 10,242 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in EOG Resources in the fourth quarter valued at approximately $26,062,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of EOG Resources in the fourth quarter valued at approximately $78,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

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.