Royal Bank Of Canada Raises EOG Resources (NYSE:EOG) Price Target to $145.00

Key Points

• Royal Bank of Canada has raised the price target for EOG Resources from $140.00 to $145.00, indicating a potential upside of 31.22% from the stock's previous close.
• Analysts have varying ratings for EOG Resources, with one analyst issuing a Strong Buy and others giving ratings ranging from sector perform to hold, averaging a consensus target price of $143.61.
• EOG Resources reported a quarterly earnings per share of $2.32, surpassing the consensus estimate, while quarterly revenue was down by 9.1% year-over-year.

EOG Resources (NYSE:EOG - Get Free Report) had its price objective upped by analysts at Royal Bank Of Canada from $140.00 to $145.00 in a research note issued 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 suggests a potential upside of 31.22% from the stock's previous close.

Other analysts also recently issued reports about the stock. Scotiabank restated a "sector perform" rating and issued a $130.00 target price on shares of EOG Resources in a report on Friday, September 26th. Melius started coverage on EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of EOG Resources in a research note on Saturday, September 27th. Evercore ISI lifted their price objective on shares of EOG Resources from $141.00 to $149.00 and gave the company an "outperform" rating in a report on Monday. Finally, Argus lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $143.61.

EOG Resources Trading Down 0.3%

Shares of EOG Resources stock opened at $110.50 on Tuesday. The company has a fifty day moving average of $118.24 and a 200 day moving average of $117.06. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market capitalization of $60.33 billion, a P/E ratio of 10.74, a P/E/G ratio of 8.51 and a beta of 0.74. 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 (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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the company earned $3.16 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Institutional Trading of EOG Resources

Several large investors have recently made changes to their positions in the business. Nuveen LLC acquired a new position in shares of EOG Resources during the 1st quarter worth approximately $451,908,000. First Trust Advisors LP grew its position in shares of EOG Resources by 64.1% in the second quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company's stock valued at $445,921,000 after purchasing an additional 1,456,928 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 6.5% during the first 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 buying an additional 1,188,552 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of EOG Resources by 282.3% in the second quarter. Prudential Financial Inc. now owns 1,546,058 shares of the energy exploration company's stock valued at $184,924,000 after purchasing an additional 1,141,680 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of EOG Resources during the 1st quarter valued at approximately $81,752,000. 89.91% of the stock is owned by hedge funds and other 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.

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