EOG Resources (NYSE:EOG) Price Target Raised to $148.00

EOG Resources (NYSE:EOG - Get Free Report) had its price objective increased by investment analysts at Wells Fargo & Company from $146.00 to $148.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy exploration company's stock. Wells Fargo & Company's price target indicates a potential upside of 21.40% from the stock's previous close.

Several other analysts have also weighed in on EOG. Raymond James raised their price objective on EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a research note on Monday, June 2nd. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Bank of America lowered their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Williams Trading set a $154.00 price objective on EOG Resources in a report on Wednesday, March 5th. Finally, Scotiabank upgraded EOG Resources from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $150.00 to $130.00 in a report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.10.

EOG Resources Price Performance

Shares of NYSE:EOG traded down $3.37 on Monday, hitting $121.91. The stock had a trading volume of 1,695,046 shares, compared to its average volume of 3,323,212. EOG Resources has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm's 50 day moving average price is $111.99 and its 200-day moving average price is $121.75. The company has a market capitalization of $66.54 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the firm earned $2.82 EPS. EOG Resources's quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently modified their holdings of EOG. Silvercrest Asset Management Group LLC increased its stake in EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after purchasing an additional 106,677 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its stake in EOG Resources by 3.2% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company's stock valued at $12,630,000 after purchasing an additional 3,150 shares in the last quarter. Signet Financial Management LLC increased its position in EOG Resources by 15.3% during the first quarter. Signet Financial Management LLC now owns 29,292 shares of the energy exploration company's stock worth $3,756,000 after buying an additional 3,890 shares in the last quarter. Northside Capital Management LLC purchased a new position in EOG Resources during the first quarter worth $27,102,000. Finally, Charles Schwab Investment Management Inc. increased its position in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock worth $2,230,014,000 after buying an additional 781,282 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

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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