EOG Resources (NYSE:EOG) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded EOG Resources from “Buy” to “Hold.” Despite the downgrade, analysts’ consensus remains “Moderate Buy,” with an average price target of $155.32.
• EOG shares rose 2.1% to $148.54, near their 12-month high of $151.87. The company reported quarterly earnings of $3.41 per share, beating estimates, while revenue increased 22.1% year over year to $6.92 billion.
• Institutional investors own approximately 89.91% of EOG’s stock, with several firms recently initiating or increasing positions.

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein cut their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research note on Wednesday, May 20th. JPMorgan Chase & Co. dropped their target price on EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Jefferies Financial Group restated a "buy" rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Wolfe Research boosted their price objective on shares of EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Finally, Weiss Ratings raised shares of EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $155.32.

EOG Resources Stock Up 2.1%

Shares of NYSE:EOG opened at $148.54 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources has a 12 month low of $101.59 and a 12 month high of $151.87. The company has a market cap of $79.12 billion, a price-to-earnings ratio of 14.62 and a beta of 0.25. The company has a 50-day moving average price of $136.95 and a 200 day moving average price of $131.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $2.87 earnings per share. As a group, equities research analysts predict that EOG Resources will post 16.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. grew its position in EOG Resources by 225.5% in the 1st 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. Financial Life Planners acquired a new stake in EOG Resources during the first quarter valued at approximately $30,000. Acumen Wealth Advisors LLC bought a new stake in EOG Resources during the fourth quarter worth approximately $25,000. Prosperity Bancshares Inc acquired a new position in EOG Resources in the fourth quarter worth approximately $26,000. Finally, Global Assets Advisory LLC acquired a new position in EOG Resources in the first quarter worth approximately $37,000. 89.91% of the stock is currently owned by institutional investors.

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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