EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

EOG Resources (NYSE:EOG) had its price target lifted by stock analysts at Wells Fargo & Company from $127.00 to $155.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 14.72% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group boosted their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Scotiabank set a $123.00 price objective on shares of EOG Resources and gave the stock a “sector perform” rating in a research report on Friday, January 16th. Mizuho set a $134.00 target price on shares of EOG Resources and gave the stock a “neutral” rating in a research note on Friday, December 12th. Zacks Research upgraded EOG Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, KeyCorp lowered EOG Resources from an “overweight” rating to a “sector weight” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $137.50.

EOG Resources Stock Performance

EOG Resources stock traded up $1.51 during midday trading on Monday, hitting $135.11. 532,485 shares of the company were exchanged, compared to its average volume of 5,267,620. The firm has a market capitalization of $72.49 billion, a PE ratio of 14.82 and a beta of 0.44. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $136.14. The business has a fifty day simple moving average of $116.41 and a two-hundred day simple moving average of $112.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.63.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) 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 the consensus estimate of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.EOG Resources’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.74 earnings per share. On average, sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $130.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief operating officer owned 88,045 shares of the company’s stock, valued at $11,445,850. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,774 shares of company stock valued at $945,895 in the last quarter. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently bought and sold shares of the company. Cullen Capital Management LLC raised its holdings in EOG Resources by 4.7% in the 2nd quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company’s stock valued at $68,952,000 after acquiring an additional 25,753 shares during the last quarter. Rockland Trust Co. boosted its holdings in shares of EOG Resources by 5.1% during the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company’s stock worth $27,618,000 after purchasing an additional 11,965 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of EOG Resources by 21.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company’s stock valued at $7,380,000 after purchasing an additional 11,442 shares in the last quarter. Railway Pension Investments Ltd grew its position in shares of EOG Resources by 6.9% in the second quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock valued at $53,717,000 after purchasing an additional 28,800 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of EOG Resources by 1,413.5% in the third quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company’s stock valued at $2,863,000 after purchasing an additional 23,846 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.