BMO Capital Markets Boosts EOG Resources (NYSE:EOG) Price Target to $140.00

EOG Resources (NYSE:EOG) had its target price boosted by analysts at BMO Capital Markets from $120.00 to $140.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy exploration company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 9.00% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Roth Mkm restated a “neutral” rating and issued a $110.00 price objective on shares of EOG Resources in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their target price on EOG Resources from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Mizuho set a $134.00 price target on EOG Resources and gave the company a “neutral” rating in a report on Friday, December 12th. Barclays dropped their price objective on EOG Resources from $136.00 to $133.00 and set an “equal weight” rating for the company in a report on Wednesday, January 21st. Finally, Capital One Financial reduced their target price on shares of EOG Resources from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.85.

EOG Resources Price Performance

EOG traded down $0.21 during trading on Tuesday, hitting $128.44. The company’s stock had a trading volume of 897,257 shares, compared to its average volume of 5,048,610. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $68.91 billion, a price-to-earnings ratio of 14.03 and a beta of 0.44. The firm’s 50 day moving average price is $111.71 and its two-hundred day moving average price is $111.75. EOG Resources has a 12 month low of $101.59 and a 12 month high of $131.32.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $2.74 earnings per share. Sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer owned 61,481 shares of the company’s stock, valued at $7,685,125. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently modified their holdings of EOG. First Trust Advisors LP boosted its holdings in shares of EOG Resources by 64.1% in the second quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company’s stock valued at $445,921,000 after buying an additional 1,456,928 shares during the period. Franklin Resources Inc. boosted its stake in EOG Resources by 24.2% in the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the period. Prudential Financial Inc. increased its holdings in EOG Resources by 282.3% during the 2nd quarter. Prudential Financial Inc. now owns 1,546,058 shares of the energy exploration company’s stock worth $184,924,000 after purchasing an additional 1,141,680 shares in the last quarter. Marshall Wace LLP raised its stake in shares of EOG Resources by 474.7% in the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock valued at $138,430,000 after purchasing an additional 1,088,867 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of EOG Resources by 23.9% in the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after purchasing an additional 901,897 shares in the last quarter. 89.91% of the stock is currently 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.