BMO Capital Markets Lowers EOG Resources (NYSE:EOG) Price Target to $120.00

EOG Resources (NYSE:EOG) had its target price decreased by investment analysts at BMO Capital Markets from $126.00 to $120.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the energy exploration company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 11.04% from the company’s current price.

A number of other analysts also recently weighed in on EOG. Evercore ISI increased their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $126.00 target price (down previously from $144.00) on shares of EOG Resources in a report on Monday, January 5th. Royal Bank Of Canada set a $138.00 price objective on EOG Resources and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group set a $140.00 price target on shares of EOG Resources in a report on Wednesday. Finally, Barclays set a $136.00 price objective on EOG Resources and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average target price of $137.25.

EOG Resources Price Performance

Shares of NYSE EOG traded down $2.67 during midday trading on Monday, reaching $108.07. 4,637,524 shares of the company were exchanged, compared to its average volume of 3,909,484. The stock’s 50-day moving average price is $106.81 and its 200-day moving average price is $112.91. The stock has a market cap of $58.64 billion, a P/E ratio of 10.76, a PEG ratio of 8.53 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. EOG Resources has a one year low of $101.59 and a one year high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the business posted $2.89 EPS. EOG Resources’s revenue for the quarter was down 2.0% 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.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total transaction of $211,360.00. Following the completion of the sale, the chief operating officer owned 54,979 shares of the company’s stock, valued at $5,810,180.72. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in the business. Bourgeon Capital Management LLC increased its stake in shares of EOG Resources by 37.8% during the fourth quarter. Bourgeon Capital Management LLC now owns 27,294 shares of the energy exploration company’s stock valued at $2,866,000 after buying an additional 7,485 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in EOG Resources by 13.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,312 shares of the energy exploration company’s stock valued at $1,188,000 after acquiring an additional 1,346 shares in the last quarter. Rockland Trust Co. increased its position in EOG Resources by 5.1% during the 4th quarter. Rockland Trust Co. now owns 258,771 shares of the energy exploration company’s stock valued at $27,174,000 after purchasing an additional 12,445 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in EOG Resources by 70.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 31,070 shares of the energy exploration company’s stock worth $3,263,000 after purchasing an additional 12,795 shares in the last quarter. Finally, J. Safra Sarasin Holding AG raised its holdings in EOG Resources by 95.4% in the 4th quarter. J. Safra Sarasin Holding AG now owns 9,127 shares of the energy exploration company’s stock worth $958,000 after purchasing an additional 4,455 shares in the last quarter. 89.91% of the stock is currently owned by 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.