EOG Resources (NYSE:EOG) Given Outperform Rating at Royal Bank Of Canada

EOG Resources (NYSE:EOG - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued on Friday,Benzinga reports. They presently have a $145.00 target price on the energy exploration company's stock. Royal Bank Of Canada's target price points to a potential upside of 15.97% from the company's current price.

Other analysts also recently issued research reports about the company. Piper Sandler cut their price target on EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Stephens started coverage on shares of EOG Resources in a research report on Tuesday. They set an "equal weight" rating and a $137.00 price target for the company. Bank of America cut their price objective 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. Raymond James Financial raised their price target on shares of EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a research note on Monday, June 2nd. Finally, KeyCorp decreased their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $139.48.

EOG Resources Stock Performance

EOG Resources stock traded up $1.25 during mid-day trading on Friday, reaching $125.03. The company's stock had a trading volume of 870,210 shares, compared to its average volume of 3,345,699. The firm has a market cap of $68.24 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 10.11 and a beta of 0.74. EOG Resources has a twelve month low of $102.52 and a twelve month high of $138.18. The business has a 50 day moving average price of $113.15 and a 200-day moving average price of $121.66. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at $6,098,240.32. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in EOG Resources during the first quarter valued at about $451,908,000. Wealthfront Advisers LLC raised its holdings in shares of EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company's stock valued at $349,627,000 after acquiring an additional 2,792,092 shares during the period. Capital World Investors lifted its position in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of EOG Resources in the 4th quarter valued at approximately $171,193,000. Finally, GAMMA Investing LLC boosted its stake in EOG Resources by 14,784.1% in the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after purchasing an additional 1,272,765 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.

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