Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $156.00

EOG Resources (NYSE:EOG) had its price target dropped by research analysts at Morgan Stanley from $160.00 to $156.00 in a research report issued to clients and investors on Friday,MarketScreener reports. Morgan Stanley’s price target would indicate a potential upside of 17.61% from the stock’s current price.

EOG has been the topic of several other reports. Roth Mkm reaffirmed a “neutral” rating and issued a $136.00 price objective on shares of EOG Resources in a report on Wednesday, May 6th. BMO Capital Markets upped their price target on shares of EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Sanford C. Bernstein decreased their price target on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

EOG Resources Trading Down 0.7%

NYSE:EOG opened at $132.64 on Friday. The stock has a market capitalization of $70.65 billion, a price-to-earnings ratio of 13.06 and a beta of 0.25. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $135.81 and a 200 day moving average of $125.55.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 earnings per share. As a group, sell-side analysts anticipate that EOG Resources will post 16.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources during the 4th quarter worth $25,000. SJS Investment Consulting Inc. increased its position in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in EOG Resources during the fourth quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources during the fourth quarter worth about $30,000. Finally, Financial Life Planners purchased a new position in EOG Resources during the first quarter worth about $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

About EOG Resources

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.