Truist Financial Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective decreased by research analysts at Truist Financial from $149.00 to $134.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s price objective would suggest a potential upside of 3.29% from the company’s current price.

EOG has been the topic of a number of other reports. Wells Fargo & Company set a $196.00 target price on shares of EOG Resources and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Williams Trading set a $177.00 price target on shares of EOG Resources in a research note on Monday, April 20th. Jefferies Financial Group increased their price target on shares of EOG Resources from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Capital One Financial lowered their price objective on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, Piper Sandler lifted their price objective on shares of EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.75.

EOG Resources Price Performance

Shares of NYSE EOG opened at $129.74 on Wednesday. The firm has a market capitalization of $69.10 billion, a P/E ratio of 12.77 and a beta of 0.25. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $135.80 and its two-hundred day simple moving average is $125.94. EOG Resources has a twelve month low of $101.59 and a twelve month high of $151.87.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the firm posted $2.87 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that EOG Resources will post 16.32 EPS for the current fiscal year.

Institutional Trading of EOG Resources

Several hedge funds have recently added to or reduced their stakes in EOG. Summitry LLC lifted its stake in shares of EOG Resources by 1.5% in the 1st quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock valued at $699,000 after acquiring an additional 73 shares during the last quarter. Twin Capital Management Inc. grew its position in EOG Resources by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company’s stock worth $3,467,000 after acquiring an additional 79 shares during the last quarter. Hardy Reed LLC grew its position in EOG Resources by 3.8% during the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock worth $325,000 after acquiring an additional 82 shares during the last quarter. Legacy Wealth Managment LLC ID increased its stake in EOG Resources by 39.5% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 311 shares of the energy exploration company’s stock worth $45,000 after purchasing an additional 88 shares during the period. Finally, Bollard Group LLC increased its stake in EOG Resources by 0.8% in the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock worth $1,317,000 after purchasing an additional 93 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Company Profile

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.