EOG Resources (NYSE:EOG) Stock Rating Upgraded by Wall Street Zen

EOG Resources (NYSE:EOG) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Roth Capital restated a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Morgan Stanley set a $157.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. Citigroup reissued a “neutral” rating and set a $150.00 price target (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Finally, Capital One Financial lowered shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price objective for the company. in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $158.11.

EOG Resources Trading Down 0.1%

EOG opened at $140.26 on Friday. EOG Resources has a 52 week low of $101.59 and a 52 week high of $154.16. The business has a fifty day simple moving average of $144.71 and a 200-day simple moving average of $139.42. The firm has a market cap of $73.57 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.52 and a beta of 0.26. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.32 earnings per share. On average, equities analysts expect that EOG Resources will post 16.85 earnings per share for the current year.

Insider Activity at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently modified their holdings of EOG. SJS Investment Consulting Inc. lifted its holdings in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Nemes Rush Group LLC purchased a new position in shares of EOG Resources in the 4th quarter valued at about $30,000. Financial Life Planners purchased a new position in shares of EOG Resources in the 1st quarter valued at about $30,000. Wedbush Fund Advisers LLC purchased a new position in shares of EOG Resources in the 2nd quarter valued at about $31,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of EOG Resources during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.