EOG Resources (NYSE:EOG) Downgraded to Neutral Rating by Roth Capital

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by investment analysts at Roth Capital from a "buy" rating to a "neutral" rating in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $134.00 price target on the energy exploration company's stock, down from their prior price target of $140.00. Roth Capital's target price indicates a potential upside of 9.97% from the stock's current price.

Several other analysts have also issued reports on EOG. Barclays increased their target price on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Raymond James Financial increased their target price on EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a report on Monday, June 2nd. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. reduced their target price on EOG Resources from $149.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Mizuho reduced their target price on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $139.00.

EOG Resources Stock Performance

NYSE EOG traded down $0.04 on Wednesday, reaching $121.85. The stock had a trading volume of 2,703,451 shares, compared to its average volume of 3,411,314. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The firm has a fifty day moving average of $116.55 and a two-hundred day moving average of $121.32. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a market cap of $66.51 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 9.84 and a beta of 0.76.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results 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. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources's quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. On average, equities research analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

Institutional Trading of EOG Resources

Hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources during the first quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of EOG Resources during the fourth quarter valued at about $28,000. Saudi Central Bank bought a new position in shares of EOG Resources during the first quarter worth about $28,000. Heritage Wealth Advisors raised its position in shares of EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock worth $30,000 after acquiring an additional 208 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the first quarter worth about $34,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.