EOG Resources' (EOG) Sector Perform Rating Reiterated at Scotiabank

Key Points

• Scotiabank has reiterated a "sector perform" rating for EOG Resources, setting a price objective of $130.00, indicating a potential upside of 10.80% from the previous close.
• Multiple analysts have given varied ratings and target prices for EOG, with the consensus rating being "Moderate Buy" and a target price averaging $143.48.
• EOG Resources reported earnings of $2.32 per share for the last quarter, exceeding expectations, despite a 9.1% year-over-year revenue decline.

EOG Resources (NYSE:EOG - Get Free Report)'s stock had its "sector perform" rating reaffirmed by equities researchers at Scotiabank in a research note issued on Friday, MarketBeat.com reports. They currently have a $130.00 price objective on the energy exploration company's stock. Scotiabank's target price suggests a potential upside of 10.80% from the company's previous close.

EOG has been the subject of a number of other reports. Jefferies Financial Group restated a "buy" rating and set a $148.00 target price (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Susquehanna boosted their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Stephens started coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price objective for the company. KeyCorp cut their price objective on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.48.

EOG Resources Trading Up 0.5%

NYSE EOG opened at $117.33 on Friday. The company has a market capitalization of $64.06 billion, a PE ratio of 11.40, a P/E/G ratio of 8.96 and a beta of 0.85. The company has a fifty day moving average of $119.13 and a 200 day moving average of $117.71. EOG Resources has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 earnings per share. Research analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in shares of EOG Resources during the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its stake in EOG Resources by 10,950.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company's stock valued at $26,000 after acquiring an additional 219 shares in the last quarter. Saudi Central Bank purchased a new stake in EOG Resources during the 1st quarter valued at about $28,000. Raleigh Capital Management Inc. purchased a new stake in EOG Resources during the 2nd quarter valued at about $29,000. Finally, Alpine Bank Wealth Management purchased a new stake in EOG Resources during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 89.91% of the company's stock.

About EOG Resources

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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