EOG Resources (NYSE:EOG) Stock Price Target Raised at Truist Financial

Key Points

• Truist Financial raised EOG Resources’ price target from $153 to $160 while maintaining a “hold” rating, implying approximately 13.45% potential upside. The broader analyst consensus also remains “Hold,” with a $158.37 target.
• EOG shares dipped 0.2% to $141.03, despite the company reporting quarterly adjusted earnings of $5.07 per share and revenue of $8.62 billion, both exceeding analyst expectations. Revenue increased 57.4% year over year.
• Company insiders sold 52,317 shares worth approximately $7.8 million during the last quarter, while institutional investors continue to own a substantial 89.91% of EOG’s outstanding stock.

EOG Resources (NYSE:EOG - Get Free Report) had its price target raised by Truist Financial from $153.00 to $160.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "hold" rating on the energy exploration company's stock. Truist Financial's target price points to a potential upside of 13.45% from the stock's current price.

EOG has been the subject of a number of other reports. Stifel Nicolaus began coverage on shares of EOG Resources in a research report on Thursday, September 10th. They set a "hold" rating and a $158.00 price objective for the company. Susquehanna reissued a "positive" rating and issued a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Barclays set a $147.00 target price on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, August 17th. Roth Capital reiterated a "neutral" rating and issued a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. Finally, Capital One Financial downgraded EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price target for the company. in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $158.37.

EOG Resources Stock Down 0.2%

NYSE EOG traded down $0.28 during trading hours on Friday, hitting $141.03. 568,263 shares of the company traded hands, compared to its average volume of 4,098,820. The stock has a market capitalization of $73.97 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 0.51 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources has a twelve month low of $101.59 and a twelve month high of $154.16. The business's 50-day moving average is $144.42 and its 200-day moving average is $139.65.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating 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 business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.04 billion. During the same period last year, the business earned $2.32 earnings per share. The firm's revenue was up 57.4% on a year-over-year basis. Sell-side analysts anticipate that EOG Resources will post 16.85 earnings per share for the current year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 9,039 shares of the business's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the sale, the chief operating officer directly owned 90,790 shares of the company's stock, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president directly owned 100,558 shares of the company's stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 52,317 shares of company stock worth $7,823,480 in the last quarter. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. boosted its holdings in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after acquiring an additional 124 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of EOG Resources during the fourth quarter valued at about $30,000. Financial Life Planners bought a new position in shares of EOG Resources during the first quarter valued at about $30,000. Wedbush Fund Advisers LLC purchased a new position in EOG Resources during the second quarter worth about $31,000. Finally, Global Assets Advisory LLC purchased a new position in EOG Resources during the first quarter worth about $37,000. Institutional investors own 89.91% of the company's stock.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG's principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.

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