Susquehanna Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG - Get Free Report) had its price objective lifted by stock analysts at Susquehanna from $156.00 to $170.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "positive" rating on the energy exploration company's stock. Susquehanna's target price would suggest a potential upside of 43.61% from the stock's previous close.

Other analysts also recently issued research reports about the stock. KeyCorp lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. UBS Group reaffirmed a "buy" rating and issued a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Barclays lifted their target price on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Piper Sandler lowered their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.62.

EOG Resources Stock Down 0.6%

NYSE:EOG traded down $0.68 during midday trading on Wednesday, hitting $118.38. 1,785,285 shares of the company were exchanged, compared to its average volume of 3,710,880. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $64.61 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 9.13 and a beta of 0.76. The company has a fifty day simple moving average of $118.02 and a 200 day simple moving average of $121.10.

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, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm posted $2.82 EPS. EOG Resources's revenue for the quarter was down 7.4% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EOG. Silvercrest Asset Management Group LLC raised its holdings in shares of EOG Resources by 14.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares during the period. ARGA Investment Management LP raised its holdings in shares of EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after purchasing an additional 2,616 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of EOG Resources by 4.7% during the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.