Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $132.00

EOG Resources (NYSE:EOG) had its price target cut by research analysts at Morgan Stanley from $134.00 to $132.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target would suggest a potential upside of 9.33% from the company’s current price.

EOG has been the subject of several other reports. Piper Sandler lowered their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Sanford C. Bernstein decreased their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Wolfe Research started coverage on shares of EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Scotiabank decreased their price objective on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $143.58.

EOG Resources Stock Up 1.1 %

Shares of EOG stock traded up $1.37 during trading hours on Monday, hitting $120.74. 1,974,986 shares of the company’s stock traded hands, compared to its average volume of 3,163,365. The stock’s fifty day simple moving average is $125.93 and its two-hundred day simple moving average is $126.34. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The stock has a market cap of $68.65 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 2.95 and a beta of 1.28. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period last year, the business earned $2.49 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts expect that EOG Resources will post 12.2 EPS for the current year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock valued at $2,751,612 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in EOG Resources in the 4th quarter worth $5,443,000. Dai ichi Life Insurance Company Ltd lifted its stake in EOG Resources by 15.3% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 46,468 shares of the energy exploration company’s stock worth $5,620,000 after purchasing an additional 6,154 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in EOG Resources by 2.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 991,055 shares of the energy exploration company’s stock worth $119,868,000 after purchasing an additional 22,638 shares in the last quarter. DRW Securities LLC lifted its stake in EOG Resources by 871.7% in the 4th quarter. DRW Securities LLC now owns 20,891 shares of the energy exploration company’s stock worth $2,527,000 after purchasing an additional 18,741 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in EOG Resources by 228.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after purchasing an additional 10,868 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.