Mizuho Cuts EOG Resources (NYSE:EOG) Price Target to $133.00

Key Points

• Mizuho has reduced EOG Resources' price target from $140.00 to $133.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 12.91% from its current price.
• Multiple analysts have provided varying ratings, with opinions ranging from "outperform" to "hold," leading to a consensus rating of "Moderate Buy" with a target price of $143.48.
• EOG Resources' stock recently traded at $117.80, experiencing a 0.3% decline, while its earnings per share for the last quarter were reported at $2.32, exceeding expectations.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective reduced by stock analysts at Mizuho from $140.00 to $133.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the energy exploration company's stock. Mizuho's price objective would indicate a potential upside of 12.91% from the stock's current price.

Several other equities research analysts also recently issued reports on EOG. Royal Bank Of Canada lowered their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Susquehanna raised their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Melius started coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. Finally, Argus cut EOG Resources from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.48.

EOG Resources Stock Down 0.3%

Shares of NYSE EOG traded down $0.37 during mid-day trading on Monday, reaching $117.80. The company had a trading volume of 435,675 shares, compared to its average volume of 3,480,047. The stock has a fifty day moving average of $119.80 and a two-hundred day moving average of $118.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The company has a market capitalization of $64.31 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 9.05 and a beta of 0.85. 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 released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 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 firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources will post 11.47 EPS for the current year.

Insider Buying and Selling

In related 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 value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. StrongBox Wealth LLC increased its holdings in shares of EOG Resources by 1.9% during the second quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock valued at $576,000 after acquiring an additional 88 shares in the last quarter. ORG Partners LLC boosted its position in shares of EOG Resources by 45.1% during the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after buying an additional 88 shares during the last quarter. Ameriflex Group Inc. boosted its position in EOG Resources by 31.6% in the second quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company's stock worth $46,000 after purchasing an additional 91 shares during the last quarter. Granite Harbor Advisors Inc. boosted its position in EOG Resources by 3.2% in the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after purchasing an additional 94 shares during the last quarter. Finally, FSM Wealth Advisors LLC boosted its position in EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares during the last quarter. 89.91% of the stock is currently 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.

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