Evercore ISI Increases EOG Resources (NYSE:EOG) Price Target to $149.00

Key Points

• Evercore ISI raised its price target for EOG Resources from $141.00 to $149.00, suggesting a potential upside of 34.65% from the current stock price and maintaining an "outperform" rating.
• Several brokerages have adjusted their price targets for EOG Resources, with varying ratings ranging from "overweight" to "neutral," highlighting mixed sentiments among analysts.
• EOG Resources reported an earnings per share (EPS) of $2.32 for the quarter, exceeding expectations and demonstrating a 25.25% net margin, despite a 9.1% year-over-year revenue decline.

EOG Resources (NYSE:EOG - Get Free Report) had its price target upped by equities researchers at Evercore ISI from $141.00 to $149.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the energy exploration company's stock. Evercore ISI's price objective indicates a potential upside of 34.65% from the stock's current price.

A number of other brokerages have also issued reports on EOG. KeyCorp decreased their price objective on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Wolfe Research decreased their target price on shares of EOG Resources from $139.00 to $138.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. Melius initiated coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price on the stock. Mizuho dropped their price target on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $143.39.

EOG Resources Stock Performance

Shares of EOG stock opened at $110.66 on Monday. The company's 50-day simple moving average is $118.46 and its 200-day simple moving average is $117.16. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 8.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 EPS. Equities analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aaron Wealth Advisors LLC grew its stake in EOG Resources by 36.7% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 5,571 shares of the energy exploration company's stock valued at $625,000 after acquiring an additional 1,497 shares in the last quarter. First Citizens Financial Corp increased its stake in EOG Resources by 18.6% in the 3rd quarter. First Citizens Financial Corp now owns 2,323 shares of the energy exploration company's stock valued at $260,000 after buying an additional 365 shares during the period. GAMMA Investing LLC increased its stake in shares of EOG Resources by 14.8% in the third quarter. GAMMA Investing LLC now owns 9,793 shares of the energy exploration company's stock worth $1,098,000 after acquiring an additional 1,261 shares during the last quarter. Capital Asset Advisory Services LLC raised its holdings in shares of EOG Resources by 12.6% during the third quarter. Capital Asset Advisory Services LLC now owns 18,189 shares of the energy exploration company's stock worth $2,039,000 after acquiring an additional 2,041 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV raised its holdings in shares of EOG Resources by 198.7% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 3,480 shares of the energy exploration company's stock worth $390,000 after acquiring an additional 2,315 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

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.

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