EOG Resources (NYSE:EOG) Price Target Cut to $127.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its target price for EOG Resources from $149.00 to $127.00, still maintaining an "overweight" rating, indicating an 18.44% potential upside from the stock's previous close.
• Several other analysts have also adjusted their price targets for EOG Resources, with ranges from $131.00 to $173.00, reflecting varied outlooks among investment firms.
• EOG Resources reported earnings of $2.32 per share for its recent quarter, exceeding expectations, although revenue was down 9.1% year-over-year.

EOG Resources (NYSE:EOG - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $149.00 to $127.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the energy exploration company's stock. Wells Fargo & Company's target price indicates a potential upside of 18.44% from the stock's previous close.

EOG has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. UBS Group raised their price objective on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Morgan Stanley cut their price objective on EOG Resources from $141.00 to $136.00 and set an "equal weight" rating on the stock in a report on Tuesday. Wolfe Research cut their price objective on EOG Resources from $139.00 to $138.00 and set an "outperform" rating on the stock in a report on Wednesday, October 1st. Finally, Melius Research assumed coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $142.43.

EOG Resources Stock Performance

NYSE EOG opened at $107.23 on Friday. The business's 50-day moving average price is $116.78 and its 200 day moving average price is $116.20. EOG Resources has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a market capitalization of $58.55 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 8.47 and a beta of 0.74. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts predict that EOG Resources will post 11.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in EOG Resources by 0.7% during 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 buying an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 6.5% during the 1st 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 acquiring an additional 1,188,552 shares in the last quarter. Alliancebernstein L.P. raised its stake in EOG Resources by 4.2% during the 2nd quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company's stock valued at $736,712,000 after acquiring an additional 249,984 shares in the last quarter. Northern Trust Corp raised its stake in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after acquiring an additional 358,916 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake 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 valued at $709,201,000 after acquiring an additional 60,454 shares in the last quarter. Institutional investors 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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