KeyCorp Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

Key Points

• KeyCorp has reduced its price target for EOG Resources stock from $140.00 to $138.00, maintaining an "overweight" rating, which suggests a potential upside of 10.39%.
• Various analysts have diverse ratings and target prices for EOG Resources, with estimates ranging from $134.00 to $170.00, highlighting differing outlooks on the stock's performance.
• EOG Resources recently reported earnings of $2.32 EPS, surpassing estimates of $2.14, despite experiencing a 9.1% year-over-year revenue decline.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective reduced by equities researchers at KeyCorp from $140.00 to $138.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has an "overweight" rating on the energy exploration company's stock. KeyCorp's target price indicates a potential upside of 17.06% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler lowered their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Melius Research started coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price for the company. UBS Group lifted their target price on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Stephens assumed coverage on EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. Finally, Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and cut their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.52.

EOG Resources Trading Down 3.1%

Shares of NYSE:EOG traded down $3.71 during midday trading on Wednesday, hitting $117.89. 3,710,648 shares of the stock were exchanged, compared to its average volume of 2,379,045. The stock has a market capitalization of $64.37 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 9.03 and a beta of 0.85. The business's 50-day moving average price is $120.18 and its 200 day moving average price is $118.59. 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 has a 12 month low of $102.52 and a 12 month high of $138.18.

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

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of EOG Resources by 10,950.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company's stock worth $26,000 after purchasing an additional 219 shares during the period. Saudi Central Bank bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $28,000. Raleigh Capital Management Inc. bought a new stake in shares of EOG Resources in the 2nd quarter worth approximately $29,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $34,000. 89.91% of the stock is owned by institutional investors.

About EOG Resources

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.