EOG Resources (EOG) Price Target Raised to $110.00

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EOG Resources (NYSE:EOG) had its target price upped by equities researchers at KeyCorp from $105.00 to $110.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the energy exploration company’s stock. KeyCorp’s price objective suggests a potential upside of 2.74% from the company’s previous close. KeyCorp also issued estimates for EOG Resources’ Q2 2019 earnings at $1.46 EPS and Q3 2019 earnings at $1.48 EPS.

Several other analysts have also recently issued reports on EOG. ValuEngine cut shares of EOG Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Bank of America cut shares of EOG Resources from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research report on Friday, January 4th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Piper Jaffray Companies restated a “buy” rating and set a $106.00 target price on shares of EOG Resources in a research report on Wednesday, January 9th. Finally, Raymond James set a $124.00 target price on shares of EOG Resources and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. EOG Resources currently has an average rating of “Buy” and an average target price of $122.46.

EOG opened at $107.07 on Monday. EOG Resources has a 52 week low of $82.04 and a 52 week high of $133.53. The stock has a market cap of $61.39 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.45 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.36 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, February 26th. The energy exploration company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.10). The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. EOG Resources had a net margin of 19.79% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. On average, sell-side analysts forecast that EOG Resources will post 4.94 EPS for the current fiscal year.

In other news, Director Frank G. Wisner sold 1,296 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total transaction of $113,114.88. Following the transaction, the director now directly owns 120,052 shares in the company, valued at $10,478,138.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Guidant Wealth Advisors boosted its stake in EOG Resources by 50.5% in the first quarter. Guidant Wealth Advisors now owns 301 shares of the energy exploration company’s stock valued at $29,000 after acquiring an additional 101 shares in the last quarter. Private Capital Group LLC boosted its stake in EOG Resources by 6.3% in the fourth quarter. Private Capital Group LLC now owns 1,869 shares of the energy exploration company’s stock valued at $163,000 after acquiring an additional 110 shares in the last quarter. Lincoln National Corp boosted its stake in EOG Resources by 4.5% in the fourth quarter. Lincoln National Corp now owns 2,566 shares of the energy exploration company’s stock valued at $224,000 after acquiring an additional 111 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in EOG Resources by 76.4% in the first quarter. Valeo Financial Advisors LLC now owns 261 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 113 shares in the last quarter. Finally, Resources Management Corp CT ADV boosted its stake in EOG Resources by 9.3% in the fourth quarter. Resources Management Corp CT ADV now owns 1,355 shares of the energy exploration company’s stock valued at $118,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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