Bank of America Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG - Get Free Report) had its price objective decreased by equities research analysts at Bank of America from $125.00 to $124.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the energy exploration company's stock. Bank of America's target price indicates a potential upside of 12.54% from the company's current price.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reduced their target price on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada upgraded shares of EOG Resources from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $150.00 to $155.00 in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of EOG Resources from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday. KeyCorp cut their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, UBS Group decreased their price target on EOG Resources from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.79.

EOG Resources Price Performance

EOG Resources stock traded down $0.61 during mid-day trading on Friday, reaching $110.18. 942,096 shares of the company's stock traded hands, compared to its average volume of 3,289,244. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a market cap of $60.13 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 3.58 and a beta of 0.78. The stock has a 50 day moving average of $114.96 and a two-hundred day moving average of $124.02. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. Equities analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in EOG. Vanguard Group Inc. raised its stake in shares of EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after purchasing an additional 348,895 shares during the last quarter. Capital World Investors increased its holdings in EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after buying an additional 2,270,013 shares during the period. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after buying an additional 1,188,552 shares during the last quarter. Geode Capital Management LLC lifted its stake in EOG Resources by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock valued at $1,541,282,000 after acquiring an additional 234,067 shares during the period. Finally, Northern Trust Corp increased its stake in shares of EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after acquiring an additional 358,916 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.

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