EOG Resources (NYSE:EOG) Receives "Buy" Rating from 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 restated by equities researchers at UBS Group in a report 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 price target would suggest a potential upside of 18.43% from the stock's current price.

Several other brokerages have also weighed in on EOG. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Susquehanna upped their target price on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Bank of America lowered their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Stephens initiated coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $140.71.

EOG Resources Stock Performance

NYSE EOG traded up $0.43 during trading hours on Tuesday, hitting $119.90. 2,246,692 shares of the stock were exchanged, compared to its average volume of 3,029,156. The company has a market cap of $65.46 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 9.19 and a beta of 0.80. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a 50-day moving average of $120.19 and a 200 day moving average of $119.56. 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 (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 earnings per share. As a group, equities 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 other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources 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 transaction, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. StrongBox Wealth LLC lifted its holdings in shares of EOG Resources by 1.9% during the 2nd quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock valued at $576,000 after acquiring an additional 88 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after acquiring an additional 88 shares in the last quarter. Ameriflex Group Inc. lifted its holdings in shares of EOG Resources by 31.6% during the 2nd quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company's stock valued at $46,000 after acquiring an additional 91 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of EOG Resources by 5.7% during the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after acquiring an additional 92 shares in the last quarter. Finally, Granite Harbor Advisors Inc. increased its stake in EOG Resources by 3.2% during the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after buying an additional 94 shares during the period. 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.