EOG Resources (NYSE:EOG) Given New $139.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised its price target on EOG Resources to $139 from $135 while keeping a neutral rating, implying about 4.9% upside from the prior close.
• EOG also has mixed analyst sentiment overall, with an average Moderate Buy rating and a consensus target price of $154.31 across Wall Street coverage.
• The company recently reported better-than-expected quarterly results, posting EPS of $3.41 on revenue of $6.92 billion, both above analyst estimates, even as the stock traded down 0.6% on the day.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective boosted by The Goldman Sachs Group from $135.00 to $139.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the energy exploration company's stock. The Goldman Sachs Group's price objective would suggest a potential upside of 4.89% from the stock's previous close.

EOG has been the topic of several other research reports. Roth Mkm reissued a "neutral" rating and set a $136.00 target price on shares of EOG Resources in a research note on Wednesday, May 6th. Susquehanna boosted their price target on shares of EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. DA Davidson increased their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Mizuho raised their price objective on shares of EOG Resources from $147.00 to $149.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial lifted their price objective on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and an average target price of $154.31.

EOG Resources Trading Down 0.6%

NYSE EOG traded down $0.79 during trading hours on Tuesday, reaching $132.53. The company had a trading volume of 342,409 shares, compared to its average volume of 4,932,812. The stock has a 50-day moving average of $136.06 and a 200 day moving average of $118.67. EOG Resources has a 1-year low of $101.59 and a 1-year high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $70.59 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.61 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. The firm's revenue was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that EOG Resources will post 14.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at $14,038,449.84. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,230 shares of company stock worth $2,522,568 over the last 90 days. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the company. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources in the 2nd quarter valued at about $258,000. Quantbot Technologies LP purchased a new stake in EOG Resources during the second quarter worth approximately $349,000. Gamco Investors INC. ET AL lifted its stake in EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock worth $785,000 after purchasing an additional 4,485 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in EOG Resources by 2.0% in the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after purchasing an additional 444 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after purchasing an additional 15,250 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other 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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