EOG Resources (NYSE:EOG) Coverage Initiated at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage of EOG Resources with a “hold” rating and a $158 price target, implying approximately 7.9% upside from the reported share price.
• Analyst sentiment remains cautious overall: EOG has a consensus “Hold” rating and an average price target of $157.07, based on one Strong Buy, 11 Buy, and 18 Hold ratings.
• EOG reported stronger-than-expected quarterly results, with EPS of $5.07 versus the $4.97 consensus and revenue of $8.62 billion; revenue increased 57.4% year over year.

Investment analysts at Stifel Nicolaus began coverage on shares of EOG Resources (NYSE:EOG - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "hold" rating and a $158.00 price target on the energy exploration company's stock. Stifel Nicolaus' price target indicates a potential upside of 7.91% from the company's current price.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $151.00 price target (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Mizuho set a $157.00 price target on shares of EOG Resources and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Truist Financial upped their price objective on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $183.00 price objective on shares of EOG Resources in a research report on Monday, August 3rd. Finally, Wall Street Zen cut EOG Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $157.07.

EOG Resources Trading Down 0.4%

Shares of NYSE EOG traded down $0.59 during trading on Thursday, hitting $146.41. 163,587 shares of the company were exchanged, compared to its average volume of 4,153,918. The company has a fifty day moving average price of $142.43 and a 200-day moving average price of $137.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm has a market capitalization of $76.80 billion, a PE ratio of 11.40, a P/E/G ratio of 0.54 and a beta of 0.26. EOG Resources has a 12-month low of $101.59 and a 12-month high of $153.67.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the firm posted $2.32 earnings per share. EOG Resources's quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources will post 16.89 EPS for the current year.

Insider Activity

In related news, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% 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.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth $25,000. SJS Investment Consulting Inc. grew its stake in shares of EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter valued at $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources in the fourth quarter valued at $30,000. Finally, Financial Life Planners acquired a new stake in EOG Resources in the first quarter valued at $30,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company's principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

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