JPMorgan Chase & Co. Lowers EOG Resources (NYSE:EOG) Price Target to $131.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for EOG Resources from $132.00 to $131.00, maintaining a "neutral" rating on the stock.
• The current stock price suggests a potential upside of 17.66% from the new price target, which indicates investor sentiments remain mixed about the company's performance.
• Despite the lowered price target, EOG Resources has a consensus rating of "Hold" and a consensus target price of $143.36 from analysts.

EOG Resources (NYSE:EOG - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $132.00 to $131.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a "neutral" rating on the energy exploration company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 17.66% from the stock's current price.

EOG has been the topic of a number of other research reports. Melius Research began coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price on the stock. UBS Group upped their price target on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Argus cut shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Scotiabank reaffirmed a "sector perform" rating and issued a $130.00 price target on shares of EOG Resources in a report on Friday, September 26th. Finally, KeyCorp decreased their price target on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $143.36.

EOG Resources Stock Performance

Shares of NYSE:EOG traded down $0.78 during mid-day trading on Wednesday, reaching $111.34. The company had a trading volume of 130,730 shares, compared to its average volume of 3,515,769. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $60.79 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 8.70 and a beta of 0.85. The company's 50-day moving average price is $118.94 and its 200-day moving average price is $117.48. EOG Resources has a one year low of $102.52 and a one year high of $138.18.

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

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after purchasing an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of EOG Resources by 4.2% during the 2nd quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company's stock worth $736,712,000 after acquiring an additional 249,984 shares during the last quarter. Northern Trust Corp raised its position in shares of EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after purchasing an additional 358,916 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares during the period. 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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