Sanford C. Bernstein Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

Key Points

• Sanford C. Bernstein lifted its price target on EOG from $126 to $167, keeping a "market perform" rating and implying roughly a 20.7% upside.
• Analyst views are mixed—Royal Bank of Canada raised its target to $175 with an "outperform" call, but the MarketBeat consensus remains a Hold with a $150.52 target.
• EOG beat the most recent quarter's estimates with EPS of $2.27 (vs. $2.20) and revenue of $5.64B, while the stock trades around $138 and sits within a 52‑week range of $101.59–$151.87.

EOG Resources (NYSE:EOG - Get Free Report) had its price target hoisted by Sanford C. Bernstein from $126.00 to $167.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has a "market perform" rating on the energy exploration company's stock. Sanford C. Bernstein's price target would suggest a potential upside of 20.68% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Truist Financial assumed coverage on EOG Resources in a research note on Tuesday, March 24th. They issued a "hold" rating and a $146.00 target price for the company. Mizuho upped their target price on EOG Resources from $146.00 to $147.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. KeyCorp lowered shares of EOG Resources from an "overweight" rating to a "sector weight" rating in a research report on Friday, January 16th. Royal Bank Of Canada increased their price objective on shares of EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. Finally, Piper Sandler upped their price target on shares of EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have issued a Hold rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of "Hold" and a consensus target price of $150.52.

EOG Resources Stock Up 1.6%

EOG stock opened at $138.39 on Monday. The firm has a 50 day moving average of $130.01 and a 200 day moving average of $115.51. The stock has a market capitalization of $74.14 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.84 and a beta of 0.32. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. EOG Resources's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.74 EPS. Sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is owned by company insiders.

Institutional Trading of EOG Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Hemington Wealth Management grew its stake in EOG Resources by 7.2% in the 3rd quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company's stock valued at $155,000 after acquiring an additional 93 shares during the period. Bollard Group LLC grew its position in shares of EOG Resources by 0.8% in the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock valued at $1,317,000 after purchasing an additional 93 shares during the period. apricus wealth LLC increased its stake in shares of EOG Resources by 5.0% during the third quarter. apricus wealth LLC now owns 2,002 shares of the energy exploration company's stock worth $224,000 after purchasing an additional 95 shares in the last quarter. Sowell Financial Services LLC lifted its stake in EOG Resources by 1.6% in the 3rd quarter. Sowell Financial Services LLC now owns 6,234 shares of the energy exploration company's stock valued at $699,000 after buying an additional 96 shares in the last quarter. Finally, Hardy Reed LLC boosted its holdings in EOG Resources by 4.5% in the 3rd quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock worth $254,000 after buying an additional 97 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About EOG Resources

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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