EOG Resources (NYSE:EOG) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded EOG Resources from “strong-buy” to “hold,” even though other analysts remain more constructive overall. The stock’s consensus rating is still “Moderate Buy,” with an average price target of $156.39.
• EOG’s latest quarterly results beat expectations, reporting EPS of $3.41 versus $3.23 expected and revenue of $6.92 billion versus $6.18 billion expected. Revenue also rose 22.1% year over year.
• Insiders have recently sold shares, including CFO Ann D. Janssen and COO Jeffrey R. Leitzell, with total insider sales over the last 90 days amounting to 16,230 shares worth about $2.27 million. Institutional investors still own nearly 90% of the stock.

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Capital One Financial raised their price target on EOG Resources from $130.00 to $161.00 and gave the stock an "overweight" rating in a research report on Thursday, March 26th. Morgan Stanley raised their price target on EOG Resources from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. BMO Capital Markets raised their price target on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Williams Trading set a $177.00 price target on EOG Resources in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. raised their price target on EOG Resources from $145.00 to $148.00 in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $156.39.

EOG Resources Stock Performance

EOG Resources stock opened at $134.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The stock has a fifty day moving average of $138.09 and a two-hundred day moving average of $121.67. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 13.24 and a beta of 0.27. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly 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 company 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%.EOG Resources's revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.87 earnings per share. On average, analysts anticipate that EOG Resources will post 15.67 EPS for the current fiscal year.

Insider Buying and Selling

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,230 shares of company stock worth $2,272,568. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its holdings in EOG Resources by 3.8% in the first quarter. Glenmede Trust Co. NA now owns 13,294 shares of the energy exploration company's stock valued at $1,922,000 after acquiring an additional 491 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its holdings in EOG Resources by 9.0% in the first quarter. Summit Financial Wealth Advisors LLC now owns 2,382 shares of the energy exploration company's stock valued at $344,000 after acquiring an additional 197 shares during the last quarter. Summitry LLC boosted its holdings in EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company's stock valued at $699,000 after acquiring an additional 73 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in EOG Resources in the first quarter valued at $4,474,000. Finally, Montchanin Asset Management LLC acquired a new position in EOG Resources in the first quarter valued at $369,000. Institutional investors and hedge funds own 89.91% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.