Royal Bank Of Canada Cuts EOG Resources (NYSE:EOG) Price Target to $140.00

EOG Resources (NYSE:EOG - Get Free Report) had its target price reduced by equities researchers at Royal Bank Of Canada from $145.00 to $140.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the energy exploration company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 13.75% from the company's current price.

Several other research firms have also commented on EOG. KeyCorp lowered their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Mizuho reduced their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Barclays increased their price objective on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Susquehanna reduced their price objective on EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $139.00.

EOG Resources Trading Up 1.1%

Shares of EOG traded up $1.35 during midday trading on Tuesday, hitting $123.08. 2,215,902 shares of the stock were exchanged, compared to its average volume of 3,410,566. EOG Resources has a 52-week low of $102.52 and a 52-week high of $138.18. The stock has a fifty day simple moving average of $116.79 and a 200 day simple moving average of $121.34. The firm has a market cap of $67.17 billion, a P/E ratio of 11.42, a P/E/G ratio of 9.82 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 (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping 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 business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the business posted $2.82 earnings per share. The company's quarterly revenue was down 7.4% on a year-over-year basis. On average, research analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Petredis Investment Advisors LLC increased its position in EOG Resources by 1.2% during the second quarter. Petredis Investment Advisors LLC now owns 48,791 shares of the energy exploration company's stock worth $5,836,000 after buying an additional 602 shares during the period. Wedge Capital Management L L P NC increased its position in EOG Resources by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 32,859 shares of the energy exploration company's stock worth $3,930,000 after buying an additional 300 shares during the period. Silver Oak Securities Incorporated increased its position in EOG Resources by 34.3% during the second quarter. Silver Oak Securities Incorporated now owns 3,713 shares of the energy exploration company's stock worth $444,000 after buying an additional 948 shares during the period. Butensky & Cohen Financial Security Inc. increased its position in EOG Resources by 5.5% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 41,237 shares of the energy exploration company's stock worth $4,932,000 after buying an additional 2,135 shares during the period. Finally, Pinnacle Bancorp Inc. increased its position in EOG Resources by 5.2% during the second quarter. Pinnacle Bancorp Inc. now owns 2,035 shares of the energy exploration company's stock worth $243,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds 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.