JPMorgan Chase & Co. Cuts EOG Resources (NYSE:EOG) Price Target to $131.00

EOG Resources (NYSE:EOG) had its price objective cut by JPMorgan Chase & Co. from $132.00 to $131.00 in a research note released on Wednesday,MarketScreener reports. They currently have a neutral rating on the energy exploration company’s stock.

Several other analysts also recently commented on the company. Scotiabank reissued a “sector perform” rating and issued a $130.00 price objective on shares of EOG Resources in a research note on Friday, September 26th. Susquehanna upped their price target on EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Roth Capital lowered EOG Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Stephens assumed coverage on EOG Resources in a research note on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price objective on the stock. Finally, Melius Research began coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.14.

EOG Resources Stock Up 0.2%

EOG Resources stock opened at $110.66 on Wednesday. The firm has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 8.48 and a beta of 0.74. The firm’s fifty day moving average price is $118.46 and its two-hundred day moving average price is $117.27. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock worth $6,922,633,000 after buying an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the period. Alliancebernstein L.P. boosted its stake in EOG Resources by 4.2% in the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock valued at $736,712,000 after acquiring an additional 249,984 shares during the last quarter. Northern Trust Corp boosted its stake in EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after acquiring an additional 358,916 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company’s stock valued at $709,201,000 after acquiring an additional 60,454 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.