EOG Resources (NYSE:EOG) Cut to Equal Weight at Capital One Financial

Key Points

• Capital One Financial downgraded EOG Resources from “overweight” to “equal weight” and set a $153 price target, implying approximately 4.15% upside from the prior close.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports an average rating of “Hold” and an average target price of $156, based on one Strong Buy, eleven Buys, and seventeen Holds.
• EOG reported quarterly EPS of $5.07, beating estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Shares opened at $146.90, near the company’s 12-month high of $153.67.

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by investment analysts at Capital One Financial from an "overweight" rating to an "equal weight" rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $153.00 target price on the energy exploration company's stock. Capital One Financial's target price points to a potential upside of 4.15% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Freedom Capital downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Barclays set a $147.00 price target on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, August 17th. Sanford C. Bernstein decreased their price objective on 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 reissued a "neutral" rating and set a $151.00 price objective (up from $127.00) on shares of EOG Resources in a report on Monday. Finally, Jefferies Financial Group restated a "buy" rating and issued a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, EOG Resources has an average rating of "Hold" and an average target price of $156.00.

EOG Resources Stock Performance

Shares of EOG stock opened at $146.90 on Wednesday. The stock has a market capitalization of $77.05 billion, a P/E ratio of 11.43, a PEG ratio of 0.56 and a beta of 0.25. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The firm's 50 day moving average is $139.41 and its 200 day moving average is $135.70. 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 released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period last year, the firm earned $2.32 EPS. EOG Resources's revenue for the quarter was up 57.4% on a year-over-year basis. On average, sell-side analysts anticipate that EOG Resources will post 16.87 earnings per share for the current year.

Insider Activity

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the 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 sale, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its holdings in shares of EOG Resources by 1.3% in the 2nd quarter. HighTower Advisors LLC now owns 309,148 shares of the energy exploration company's stock valued at $40,106,000 after acquiring an additional 3,865 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of EOG Resources during the second quarter worth about $34,495,000. California State Teachers Retirement System grew its holdings in shares of EOG Resources by 12,810.7% during the second quarter. California State Teachers Retirement System now owns 80,957,747 shares of the energy exploration company's stock worth $10,502,649,000 after purchasing an additional 80,330,686 shares in the last quarter. Wedmont Private Capital increased its position in shares of EOG Resources by 63.5% in the second quarter. Wedmont Private Capital now owns 7,657 shares of the energy exploration company's stock worth $1,027,000 after purchasing an additional 2,973 shares during the last quarter. Finally, Insight Inv LLC increased its position in shares of EOG Resources by 2.4% in the second quarter. Insight Inv LLC now owns 24,077 shares of the energy exploration company's stock worth $3,124,000 after purchasing an additional 556 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Company Profile

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.

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