Wall Street Zen Upgrades EOG Resources (NYSE:EOG) to "Buy"

Key Points

• Wall Street Zen upgraded EOG Resources to “Buy” from “Hold,” although the broader analyst consensus remains “Hold” with an average price target of $158.11.
• EOG reported quarterly EPS of $5.07, beating estimates of $4.97, while revenue reached $8.62 billion, up 57.4% year over year and above expectations.
• EOG shares opened at $140.26, with a market capitalization of $73.57 billion; institutional investors own 89.91% of the stock, while two executives recently sold shares.

EOG Resources (NYSE:EOG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial restated a "strong-buy" rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Thursday, September 17th. Barclays set a $147.00 price target on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Jefferies Financial Group reiterated a "buy" rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Wells Fargo & Company restated an "overweight" rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. One 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. According to MarketBeat.com, EOG Resources currently has an average rating of "Hold" and a consensus target price of $158.11.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $140.26 on Friday. The company has a market cap of $73.57 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.53 and a beta of 0.26. EOG Resources has a 12 month low of $101.59 and a 12 month high of $154.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The company has a 50-day simple moving average of $144.71 and a 200-day simple moving average of $139.37.

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 the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company's quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.32 earnings per share. On average, equities analysts anticipate that EOG Resources will post 16.85 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 100,558 shares of the company's stock, valued at approximately $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares of the company's stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its position in shares of EOG Resources by 5.9% during the second quarter. QRG Capital Management Inc. now owns 95,517 shares of the energy exploration company's stock worth $12,391,000 after purchasing an additional 5,327 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in EOG Resources by 1.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,888 shares of the energy exploration company's stock valued at $1,931,000 after buying an additional 185 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in EOG Resources by 14.8% during the second quarter. Sequoia Financial Advisors LLC now owns 26,193 shares of the energy exploration company's stock valued at $3,398,000 after buying an additional 3,373 shares in the last quarter. National Pension Service raised its stake in 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 valued at $253,839,000 after buying an additional 9,738 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in EOG Resources during the 2nd quarter worth approximately $587,000. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

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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