EOG Resources (NYSE:EOG) Price Target Raised to $155.00 at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on EOG to $155 (from $128) while maintaining an "equal weight" rating, implying about a 14.6% upside from the prior close.
• Other brokers also bumped targets—Jefferies to $170 and Sanford Bernstein to $167—but the consensus remains a Hold with an average target of $153.68 (1 Strong Buy, 11 Buy, 18 Hold).
• EOG beat Q4 expectations with $2.27 EPS and $5.64B revenue; the stock trades near $135, has a market cap of about $72.5B and a P/E around 14.9.

EOG Resources (NYSE:EOG - Get Free Report) had its target price lifted by equities research analysts at Morgan Stanley from $128.00 to $155.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an "equal weight" rating on the energy exploration company's stock. Morgan Stanley's target price suggests a potential upside of 14.55% from the stock's previous close.

EOG has been the subject of several other research reports. The Goldman Sachs Group increased their price target on shares of EOG Resources from $133.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Jefferies Financial Group raised their price target on shares of EOG Resources from $146.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Scotiabank upped their price objective on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Piper Sandler raised their target price on EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 1st. Finally, Sanford C. Bernstein upped their price target on EOG Resources from $126.00 to $167.00 and gave the company a "market perform" rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $153.68.

EOG Resources Stock Performance

Shares of EOG opened at $135.31 on Tuesday. The stock has a 50 day moving average of $133.93 and a 200 day moving average of $117.10. The company has a market capitalization of $72.49 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.65 and a beta of 0.32. EOG Resources has a 12 month low of $101.59 and a 12 month high of $151.87. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The business had revenue of $5.64 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the previous year, the firm earned $2.74 earnings per share. The business's revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources will post 13.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares of the company's stock, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,230 shares of company stock valued at $2,522,568 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors grew its stake in EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after buying an additional 782,426 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of EOG Resources by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after purchasing an additional 446,341 shares during the last quarter. State Street Corp boosted its holdings in EOG Resources by 0.3% during the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock valued at $3,209,365,000 after acquiring an additional 100,080 shares during the period. Capital Research Global Investors lifted its position in EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock valued at $2,794,784,000 after purchasing an additional 122,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock valued at $2,099,028,000 after purchasing an additional 371,548 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

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.

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