EOG Resources' (EOG) "Buy" Rating Reaffirmed at UBS Group

Key Points

• UBS Group has raised its price target for EOG Resources from $140.00 to $142.00, indicating a potential upside of 18.52% from the company's previous close and maintaining a "buy" rating.
• Other analysts, such as Jefferies Financial Group and Royal Bank Of Canada, have also set target prices in the range of $140.00 to $148.00, reflecting positive sentiment with 9 analysts issuing buy ratings.
• EOG Resources reported earnings of $2.32 per share for the last quarter, surpassing estimates and generating a revenue of $5.48 billion, though down 9.1% year-over-year.

EOG Resources (NYSE:EOG - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at UBS Group in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $142.00 price target on the energy exploration company's stock, up from their prior price target of $140.00. UBS Group's target price points to a potential upside of 19.27% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group restated a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Royal Bank Of Canada dropped their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Stephens initiated coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target for the company. Piper Sandler dropped their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Bank of America dropped their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

EOG Resources Trading Down 0.6%

NYSE EOG traded down $0.73 on Tuesday, reaching $119.06. The stock had a trading volume of 2,944,305 shares, compared to its average volume of 3,001,705. The firm has a market capitalization of $65.01 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 9.21 and a beta of 0.80. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a fifty day moving average price of $120.29 and a two-hundred day moving average price of $119.48.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. The business 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 company's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. As a group, sell-side analysts forecast that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Several large investors have recently bought and sold shares of EOG. Vanguard Group Inc. raised its holdings in shares of EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after buying an additional 348,895 shares during the last quarter. Capital World Investors raised its holdings in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after buying an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after buying an additional 1,188,552 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of EOG Resources by 4.2% in the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company's stock valued at $736,712,000 after buying an additional 249,984 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after buying an additional 358,916 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Company Profile

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.