EOG Resources (EOG) Given New $99.00 Price Target at Wells Fargo & Co

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EOG Resources (NYSE:EOG) had its price target lowered by equities researchers at Wells Fargo & Co from $116.00 to $99.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “market perform” rating on the energy exploration company’s stock. Wells Fargo & Co‘s target price points to a potential upside of 11.78% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research firms have also recently commented on EOG. Robert W. Baird reissued a “buy” rating and set a $133.00 target price on shares of EOG Resources in a research note on Monday, December 3rd. Zacks Investment Research cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. ValuEngine raised EOG Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. MKM Partners began coverage on EOG Resources in a research note on Wednesday, December 5th. They set a “buy” rating and a $133.00 target price for the company. Finally, Morgan Stanley lowered their target price on EOG Resources from $133.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. EOG Resources currently has an average rating of “Buy” and an average price target of $123.68.

EOG stock opened at $88.57 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.13 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $50.45 billion, a P/E ratio of 15.99, a PEG ratio of 1.34 and a beta of 1.26. EOG Resources has a 12-month low of $82.04 and a 12-month high of $133.53.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, February 26th. The energy exploration company reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.10). EOG Resources had a return on equity of 17.83% and a net margin of 19.79%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, research analysts expect that EOG Resources will post 4.43 EPS for the current year.

In other news, EVP Ezra Y. Yacob sold 2,388 shares of the company’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $98.77, for a total transaction of $235,862.76. Following the completion of the transaction, the executive vice president now directly owns 45,424 shares of the company’s stock, valued at approximately $4,486,528.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank G. Wisner sold 1,296 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $87.28, for a total value of $113,114.88. Following the transaction, the director now directly owns 120,052 shares of the company’s stock, valued at $10,478,138.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,834 shares of company stock valued at $640,668. Insiders own 0.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Athena Capital Advisors LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $46,000. Legacy Financial Advisors Inc. boosted its position in shares of EOG Resources by 108.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 552 shares of the energy exploration company’s stock valued at $48,000 after purchasing an additional 287 shares during the period. Proficio Capital Partners LLC boosted its position in shares of EOG Resources by 30.8% in the 4th quarter. Proficio Capital Partners LLC now owns 565 shares of the energy exploration company’s stock valued at $49,000 after purchasing an additional 133 shares during the period. Enlightenment Research LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $52,000. Finally, Cornerstone Advisors Inc. boosted its position in shares of EOG Resources by 41.2% in the 3rd quarter. Cornerstone Advisors Inc. now owns 490 shares of the energy exploration company’s stock valued at $63,000 after purchasing an additional 143 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.

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 United Kingdom, the People's Republic of China, and Canada.

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