EOG Resources (NYSE:EOG) Price Target Lowered to $132.00 at JPMorgan Chase & Co.

EOG Resources (NYSE:EOG) had its target price cut by stock analysts at JPMorgan Chase & Co. from $149.00 to $132.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.95% from the company’s previous close.

A number of other research firms also recently commented on EOG. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Piper Sandler cut their target price on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Citigroup downgraded shares of EOG Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $145.86.

EOG Resources Trading Down 2.5 %

Shares of EOG traded down $3.11 during trading hours on Thursday, reaching $121.16. The stock had a trading volume of 1,587,738 shares, compared to its average volume of 2,998,365. The company has a market cap of $67.11 billion, a P/E ratio of 9.75, a P/E/G ratio of 3.58 and a beta of 1.25. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources has a 52 week low of $115.78 and a 52 week high of $139.67. The firm has a 50-day moving average of $129.67 and a 200 day moving average of $127.70.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, sell-side analysts expect that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in EOG Resources in the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its holdings in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in EOG Resources in the 4th quarter worth $25,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources in the 4th quarter worth $27,000. Finally, Keystone Financial Group Inc. bought a new stake in EOG Resources in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.