Barclays Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

Key Points

• Barclays raised its price target on EOG Resources from $140 to $153, implying about 9.5% upside from the current share price.
• Analyst sentiment remains constructive overall, with EOG carrying a Moderate Buy consensus and an average price target of $156.11 across Wall Street coverage.
• EOG posted strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion exceeding forecasts, while revenue rose 22.1% year over year.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective raised by equities research analysts at Barclays from $140.00 to $153.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. Barclays's price target suggests a potential upside of 9.52% from the stock's current price.

EOG has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on EOG Resources from $145.00 to $148.00 in a research note on Thursday, May 7th. The Goldman Sachs Group boosted their target price on EOG Resources from $135.00 to $139.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Piper Sandler upped their price target on EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Citigroup reaffirmed a "neutral" rating and set a $147.00 price target (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein dropped their price objective on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.11.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $139.70 on Tuesday. The stock has a market capitalization of $74.41 billion, a price-to-earnings ratio of 13.75 and a beta of 0.27. The firm's fifty day simple moving average is $138.07 and its 200-day simple moving average is $121.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources has a 12 month low of $101.59 and a 12 month high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the firm posted $2.87 EPS. EOG Resources's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that EOG Resources will post 15.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,230 shares of company stock valued at $2,272,568. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Rockland Trust Co. grew its stake in EOG Resources by 5.1% in the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company's stock worth $27,618,000 after acquiring an additional 11,965 shares during the period. Legal & General Group Plc lifted its stake in shares of EOG Resources by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after purchasing an additional 68,888 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of EOG Resources by 21.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company's stock worth $7,380,000 after purchasing an additional 11,442 shares during the period. AlphaQuest LLC boosted its holdings in shares of EOG Resources by 1,413.5% during the third quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company's stock worth $2,863,000 after purchasing an additional 23,846 shares during the last quarter. Finally, L2 Asset Management LLC grew its position in shares of EOG Resources by 69.6% in the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock valued at $2,170,000 after purchasing an additional 7,940 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.