UBS Group Cuts EOG Resources (NYSE:EOG) Price Target to $154.00

EOG Resources (NYSE:EOG) had its target price decreased by stock analysts at UBS Group from $167.00 to $154.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price objective would suggest a potential upside of 24.73% from the stock’s current price.

EOG has been the subject of several other reports. Citigroup lifted their price objective on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 24th. Sanford C. Bernstein reduced their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Bank of America reissued a “buy” rating and set a $151.00 price objective on shares of EOG Resources in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, KeyCorp began coverage on EOG Resources in a research report on Thursday, June 27th. They set an “overweight” rating and a $157.00 target price on the stock. Fourteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus target price of $142.89.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $0.28 during midday trading on Wednesday, reaching $123.47. The company’s stock had a trading volume of 812,293 shares, compared to its average volume of 3,170,159. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $70.96 billion, a PE ratio of 9.75, a P/E/G ratio of 2.95 and a beta of 1.28. The stock has a fifty day moving average of $125.80 and a 200 day moving average of $126.44.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period last year, the company posted $2.49 EPS. EOG Resources’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that EOG Resources will post 12.2 EPS for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in EOG Resources by 0.3% in the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after acquiring an additional 146,674 shares in the last quarter. Capital Research Global Investors raised its position in shares of EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after purchasing an additional 373,365 shares during the last quarter. Capital World Investors boosted its stake in EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares in the last quarter. Finally, Capital International Investors grew its position in EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.