EOG Resources (NYSE:EOG) Price Target Raised to $135.00

Key Points

• The Goldman Sachs Group raised its price target on EOG to $135 (from $133) and kept a "neutral" rating, implying roughly a 4.4% upside from the current share price.
• The analyst picture is mixed: the stock carries a consensus rating of "Hold" with an average target of $153.11, while firms like Wells Fargo, Capital One and UBS have recently boosted targets to $199, $161 and $149 respectively.
• EOG reported a quarterly beat—$2.27 EPS vs. $2.20 expected and $5.64B revenue vs. $5.36B—showing strong profitability (net margin ~22%, ROE ~18.7%); the shares trade at a P/E of about 14.2 and a market cap near $69.3B.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective upped by equities researchers at The Goldman Sachs Group from $133.00 to $135.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the energy exploration company's stock. The Goldman Sachs Group's price objective indicates a potential upside of 4.37% from the stock's current price.

A number of other research analysts also recently weighed in on EOG. Wells Fargo & Company increased their target price on EOG Resources from $155.00 to $199.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Zacks Research upgraded EOG Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, March 2nd. Capital One Financial lifted their target price on EOG Resources from $130.00 to $161.00 and gave the stock an "overweight" rating in a report on Thursday, March 26th. UBS Group raised their target price on shares of EOG Resources from $141.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. boosted their price target on EOG Resources from $115.00 to $125.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $153.11.

EOG Resources Price Performance

Shares of EOG stock opened at $129.35 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.63. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The firm has a market cap of $69.30 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.57 and a beta of 0.32. The business's 50 day moving average price is $132.42 and its 200-day moving average price is $116.31.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 earnings per share. On average, equities research analysts anticipate that EOG Resources will post 13.4 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction 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 sale, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares of the company's stock, valued at $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,230 shares of company stock worth $2,522,568 over the last ninety days. Insiders own 0.14% of the company's stock.

Institutional Trading of EOG Resources

Institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in EOG Resources in the 1st quarter valued at $4,005,000. Norway Savings Bank increased its position in shares of EOG Resources by 7.3% during the first quarter. Norway Savings Bank now owns 10,391 shares of the energy exploration company's stock valued at $1,502,000 after acquiring an additional 706 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of EOG Resources by 6.0% in the 1st quarter. Ritholtz Wealth Management now owns 16,457 shares of the energy exploration company's stock worth $2,379,000 after acquiring an additional 935 shares during the last quarter. Breakwater Capital Group purchased a new position in shares of EOG Resources during the 1st quarter worth approximately $207,000. Finally, Global Financial Private Client LLC increased its holdings in EOG Resources by 31.2% in the 1st quarter. Global Financial Private Client LLC now owns 7,840 shares of the energy exploration company's stock valued at $1,133,000 after purchasing an additional 1,865 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

About EOG Resources

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.

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