Royal Bank Of Canada Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG - Get Free Report) had its price target reduced by equities research analysts at Royal Bank Of Canada from $145.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the energy exploration company's stock. Royal Bank Of Canada's price target points to a potential upside of 12.98% from the company's previous close.

EOG has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on EOG Resources from $149.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Susquehanna reduced their price target on EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler reduced their price objective on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 target price (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $139.24.

EOG Resources Price Performance

Shares of NYSE EOG traded up $4.31 during mid-day trading on Tuesday, reaching $123.92. The company had a trading volume of 3,753,426 shares, compared to its average volume of 3,410,297. The business's 50-day simple moving average is $115.89 and its 200 day simple moving average is $121.29. The firm has a market cap of $67.63 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 9.65 and a beta of 0.76. 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 has a one year low of $102.52 and a one year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the business posted $2.82 EPS. EOG Resources's revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction on Monday, June 30th. The shares were 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 of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. 1ST Source Bank increased its holdings in shares of EOG Resources by 1.5% during the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock valued at $656,000 after acquiring an additional 80 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in EOG Resources by 2.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock valued at $498,000 after purchasing an additional 80 shares in the last quarter. TD Private Client Wealth LLC increased its stake in EOG Resources by 1.4% during the 4th quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company's stock valued at $709,000 after purchasing an additional 81 shares in the last quarter. NBT Bank N A NY raised its holdings in EOG Resources by 3.9% during the fourth quarter. NBT Bank N A NY now owns 2,411 shares of the energy exploration company's stock worth $296,000 after buying an additional 90 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in shares of EOG Resources by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after buying an additional 92 shares in the last quarter. 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.