EOG Resources, Inc. (NYSE:EOG) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• EOG Resources has a consensus “Moderate Buy” rating from 30 brokerages, with 13 buys, 16 holds and one strong buy. The average 12-month price target is approximately $155.57.
• EOG reported quarterly earnings of $3.41 per share, exceeding the $3.23 consensus estimate, while revenue rose 22.1% year over year to $6.92 billion.
• The stock opened at $145.69, near its 52-week high of $151.87, and institutional investors and hedge funds own approximately 89.91% of outstanding shares.

EOG Resources, Inc. (NYSE:EOG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirty brokerages that are covering the stock, Marketbeat.com reports. Sixteen analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $155.5714.

A number of research firms have commented on EOG. Jefferies Financial Group reiterated a "buy" rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Scotiabank boosted their target price on EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Wall Street Zen lowered EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday. Sanford C. Bernstein cut their price target on EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a report on Wednesday, May 20th. Finally, Weiss Ratings raised EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th.

EOG Resources Price Performance

Shares of NYSE EOG opened at $145.69 on Tuesday. The firm has a 50-day simple moving average of $137.03 and a 200-day simple moving average of $131.72. The stock has a market capitalization of $77.60 billion, a price-to-earnings ratio of 14.34 and a beta of 0.25. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the business posted $2.87 earnings per share. EOG Resources's quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts predict that EOG Resources will post 16.16 earnings per share for the current fiscal year.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acumen Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. increased its position in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Prosperity Bancshares Inc acquired a new stake in EOG Resources during the fourth quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources during the fourth quarter worth about $30,000. Finally, Financial Life Planners purchased a new position in EOG Resources during the first quarter worth about $30,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.

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