Raymond James Financial Raises EOG Resources (NYSE:EOG) Price Target to $186.00

Key Points

• Raymond James raised EOG Resources’ price target to $186 from $183 and maintained a “strong-buy” rating, implying 28.81% upside from the previous close.
• Analyst sentiment is mixed overall: EOG has a consensus “Hold” rating and an average price target of $158.11, despite several “Buy” recommendations.
• EOG reported quarterly adjusted earnings of $5.07 per share and revenue of $8.62 billion, beating estimates; revenue increased 57.4% year over year.

EOG Resources (NYSE:EOG - Get Free Report) had its price target hoisted by research analysts at Raymond James Financial from $183.00 to $186.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "strong-buy" rating on the energy exploration company's stock. Raymond James Financial's price target indicates a potential upside of 28.81% from the company's previous close.

A number of other brokerages have also recently issued reports on EOG. The Goldman Sachs Group reiterated 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. JPMorgan Chase & Co. decreased their target price on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group reiterated 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. Roth Capital reiterated a "neutral" rating and set a $138.00 price target on shares of EOG Resources in a report on Wednesday, August 5th. Finally, Seaport Research Partners initiated coverage on shares of EOG Resources in a research report on Thursday, September 3rd. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the company's stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of "Hold" and an average price target of $158.11.

EOG Resources Stock Down 0.4%

NYSE:EOG traded down $0.53 during trading hours on Thursday, reaching $144.40. 446,292 shares of the company traded hands, compared to its average volume of 4,142,598. 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 business's 50-day moving average price is $144.02 and its two-hundred day moving average price is $138.77. EOG Resources has a 1 year low of $101.59 and a 1 year high of $154.16. The stock has a market capitalization of $75.74 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.57 and a beta of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. During the same period in the prior year, the firm posted $2.32 earnings per share. The company's quarterly revenue was up 57.4% on a year-over-year basis. Analysts predict that EOG Resources will post 16.75 earnings per share for the current year.

Insider Activity

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares of the company's stock, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in shares of EOG Resources by 14.8% in the second quarter. Sequoia Financial Advisors LLC now owns 26,193 shares of the energy exploration company's stock worth $3,398,000 after purchasing an additional 3,373 shares in the last quarter. National Pension Service boosted its position in shares of EOG Resources by 0.5% during the second quarter. National Pension Service now owns 1,956,669 shares of the energy exploration company's stock worth $253,839,000 after acquiring an additional 9,738 shares during the last quarter. WINTON GROUP Ltd purchased a new position in EOG Resources during the second quarter valued at $587,000. Engineers Gate Manager LP bought a new stake in EOG Resources in the 2nd quarter valued at $1,300,000. Finally, Cidel Asset Management Inc. increased its holdings in EOG Resources by 3.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 8,089 shares of the energy exploration company's stock valued at $1,049,000 after acquiring an additional 282 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

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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