EOG Resources (NYSE:EOG) Price Target Cut to $155.00 by Analysts at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut its price target on EOG Resources to $155 from $167, while keeping a market perform rating. The new target still implies modest upside from the prior close.
• Other analysts have been mixed on the stock, with recent target changes ranging from neutral to positive and overweight. Overall, MarketBeat shows a consensus rating of Moderate Buy and a consensus price target of $154.38.
• EOG reported strong quarterly results, posting EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion versus expectations of $6.18 billion. The company also noted year-over-year revenue growth of 22.1%.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective dropped by equities researchers at Sanford C. Bernstein from $167.00 to $155.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a "market perform" rating on the energy exploration company's stock. Sanford C. Bernstein's target price would indicate a potential upside of 6.79% from the company's previous close.

Several other research analysts have also commented on EOG. Susquehanna boosted their price target on EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a research report on Tuesday, April 21st. Piper Sandler upped their target price on EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Capital One Financial increased their price target on shares of EOG Resources from $130.00 to $161.00 and gave the company an "overweight" rating in a research report on Thursday, March 26th. Roth Mkm reiterated a "neutral" rating and issued a $136.00 target price on shares of EOG Resources in a research note on Wednesday, May 6th. Finally, Truist Financial increased their price objective on shares of EOG Resources from $146.00 to $149.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.38.

EOG Resources Stock Performance

Shares of EOG stock opened at $145.15 on Wednesday. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87. 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 firm has a market cap of $77.31 billion, a price-to-earnings ratio of 14.20 and a beta of 0.27. The firm's 50-day simple moving average is $137.28 and its two-hundred day simple moving average is $120.04.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion for 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%.The business's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 EPS. As a group, equities analysts forecast that EOG Resources will post 14.83 earnings per share for the current year.

Insider Activity at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the sale, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Twin Capital Management Inc. grew its holdings in shares of EOG Resources by 0.3% during the first quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company's stock worth $3,467,000 after buying an additional 79 shares during the last quarter. Hardy Reed LLC boosted its holdings in shares of EOG Resources by 3.8% during the first quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock valued at $325,000 after acquiring an additional 82 shares during the period. Legacy Wealth Managment LLC ID raised its stake in shares of EOG Resources by 39.5% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 311 shares of the energy exploration company's stock worth $45,000 after buying an additional 88 shares in the last quarter. Bollard Group LLC boosted its holdings in EOG Resources by 0.8% during the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock valued at $1,317,000 after acquiring an additional 93 shares during the period. Finally, Fulton Bank N.A. raised its position in EOG Resources by 2.1% in the first quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company's stock worth $662,000 after purchasing an additional 93 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.