EOG Resources (EOG) Upgraded by Tudor Pickering to “Buy”

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EOG Resources (NYSE:EOG) was upgraded by research analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.

A number of other analysts have also commented on EOG. MKM Partners started coverage on shares of EOG Resources in a research note on Wednesday, December 5th. They set a “buy” rating and a $133.00 price objective for the company. JPMorgan Chase & Co. raised shares of EOG Resources from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $117.00 to $118.00 in a research note on Friday, December 7th. SunTrust Banks started coverage on shares of EOG Resources in a research note on Monday, December 17th. They set a “buy” rating and a $130.00 price objective for the company. ValuEngine lowered shares of EOG Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Finally, Bank of America lowered shares of EOG Resources from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research note on Friday, January 4th. Nine analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $123.00.

EOG stock opened at $93.93 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.36 and a debt-to-equity ratio of 0.27. EOG Resources has a one year low of $82.04 and a one year high of $133.53. The stock has a market cap of $55.71 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.35 and a beta of 1.26.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, February 26th. The energy exploration company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.10). EOG Resources had a net margin of 19.79% and a return on equity of 17.83%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the company posted $0.69 earnings per share. EOG Resources’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts predict that EOG Resources will post 4.85 EPS for the current year.

In other news, Director Frank G. Wisner sold 1,296 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total value of $113,114.88. Following the completion of the sale, the director now directly owns 120,052 shares of the company’s stock, valued at $10,478,138.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ezra Y. Yacob sold 2,388 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 45,424 shares of the company’s stock, valued at $4,486,528.48. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Athena Capital Advisors LLC bought a new position in EOG Resources during the fourth quarter valued at approximately $46,000. Legacy Financial Advisors Inc. raised its position in EOG Resources by 108.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 552 shares of the energy exploration company’s stock valued at $48,000 after acquiring an additional 287 shares in the last quarter. Proficio Capital Partners LLC raised its position in EOG Resources by 30.8% during the fourth quarter. Proficio Capital Partners LLC now owns 565 shares of the energy exploration company’s stock valued at $49,000 after acquiring an additional 133 shares in the last quarter. Enlightenment Research LLC bought a new position in EOG Resources during the fourth quarter valued at approximately $52,000. Finally, Cornerstone Advisors Inc. raised its position in EOG Resources by 41.2% during the third quarter. Cornerstone Advisors Inc. now owns 490 shares of the energy exploration company’s stock valued at $63,000 after acquiring an additional 143 shares in the last quarter. 87.89% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for EOG Resources (NYSE:EOG)

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