EOG Resources (NYSE:EOG) Cut to Neutral at Roth Capital

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by research analysts at Roth Capital from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $134.00 target price on the energy exploration company's stock, down from their previous target price of $140.00. Roth Capital's price objective suggests a potential upside of 9.93% from the company's previous close.

EOG has been the subject of several other research reports. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. KeyCorp cut their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. UBS Group reaffirmed a "buy" rating and issued a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their price target for the company from $150.00 to $130.00 in a report on Friday, April 11th. Finally, Stephens began coverage on EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of "Hold" and a consensus target price of $139.00.

EOG Resources Stock Down 1.7%

Shares of EOG traded down $2.05 during trading hours on Wednesday, hitting $121.90. 2,245,162 shares of the company were exchanged, compared to its average volume of 3,405,661. The company has a market cap of $66.53 billion, a PE ratio of 11.31, a PEG ratio of 9.65 and a beta of 0.76. The firm's 50 day moving average is $116.11 and its 200-day moving average is $121.31. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

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

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on 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 in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new position in EOG Resources in the 1st quarter valued at $26,000. Lee Danner & Bass Inc. bought a new position in shares of EOG Resources in the 4th quarter valued at about $28,000. Saudi Central Bank acquired a new stake in shares of EOG Resources during the 1st quarter worth approximately $28,000. Heritage Wealth Advisors raised its stake 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 buying an additional 208 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of EOG Resources during the first quarter worth approximately $34,000. 89.91% of the stock is currently owned by 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.