EOG Resources (NYSE:EOG) Now Covered by Melius

Key Points

• Investment analysts at Melius have initiated coverage on EOG Resources, assigning a buy rating and setting a target price of $173.00, indicating a potential upside of 47.62% from the stock's previous close.
• EOG Resources recently reported $2.32 earnings per share for the last quarter, surpassing consensus estimates, with revenue of $5.48 billion, despite a 9.1% decrease from the previous year.
• The stock currently holds an average rating of "Moderate Buy" with an average target price of $142.18 from various analysts, with 10 Buy ratings and 11 Hold ratings issued.

Investment analysts at Melius assumed coverage on shares of EOG Resources (NYSE:EOG - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $173.00 price target on the energy exploration company's stock. Melius' price objective would indicate a potential upside of 47.62% from the stock's previous close.

EOG has been the subject of a number of other research reports. Stephens began coverage on shares of EOG Resources in a report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price for the company. UBS Group reaffirmed a "buy" rating and set a $142.00 target price (up previously from $140.00) on shares of EOG Resources in a report on Tuesday, August 12th. Roth Capital lowered shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, Piper Sandler lowered their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.18.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $117.1930 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The firm has a market cap of $63.99 billion, a P/E ratio of 11.39, a P/E/G ratio of 9.03 and a beta of 0.80. The firm has a 50 day simple moving average of $120.34 and a 200 day simple moving average of $119.26. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 earnings per share. Sell-side analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the business'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 of the company's stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after purchasing an additional 348,895 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares during the period. Alliancebernstein L.P. boosted its stake in EOG Resources by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company's stock worth $736,712,000 after purchasing an additional 249,984 shares during the period. Northern Trust Corp boosted its stake in EOG Resources by 6.3% in the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after purchasing an additional 358,916 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after buying an additional 60,454 shares in 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.

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