Truist Financial Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price objective upped by research analysts at Truist Financial from $134.00 to $153.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price would suggest a potential upside of 13.67% from the stock’s previous close.

A number of other research firms also recently issued reports on EOG. Raymond James Financial reissued a “strong-buy” rating and issued a $183.00 price target on shares of EOG Resources in a research note on Monday. Wells Fargo & Company set a $196.00 target price on EOG Resources and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Susquehanna restated a “positive” rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Stephens lowered their price target on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. Finally, UBS Group dropped their price objective on EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $156.32.

EOG Resources Stock Down 1.2%

Shares of NYSE:EOG opened at $134.61 on Thursday. The business has a 50-day moving average price of $137.23 and a 200 day moving average price of $132.37. The company has a current ratio of 1.85, a quick ratio of 1.53 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $70.60 billion, a price-to-earnings ratio of 10.48 and a beta of 0.25. EOG Resources has a 12-month low of $101.59 and a 12-month high of $151.87.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 earnings per share. Sell-side analysts expect that EOG Resources will post 16.3 EPS for the current year.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in EOG. Vanguard Group Inc. raised its holdings in shares of EOG Resources by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock valued at $5,651,172,000 after purchasing an additional 446,341 shares in the last quarter. BlackRock Inc. purchased a new position in EOG Resources in the second quarter valued at $5,905,587,000. State Street Corp increased its holdings in EOG Resources by 0.3% in the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after buying an additional 100,080 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after buying an additional 371,548 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in EOG Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock valued at $1,364,309,000 after buying an additional 95,260 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.