JPMorgan Chase & Co. Lowers EOG Resources (NYSE:EOG) Price Target to $142.00

EOG Resources (NYSE:EOG) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $148.00 to $142.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.59% from the stock’s previous close.

A number of other equities analysts have also commented on EOG. Raymond James Financial reduced their price objective on EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. BMO Capital Markets boosted their target price on EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Stephens decreased their price objective on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. UBS Group upped 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. Finally, Wolfe Research lifted their price target on shares of EOG Resources from $152.00 to $154.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.29.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $131.98 on Tuesday. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 13.02 and a beta of 0.25. The business has a fifty day simple moving average of $135.78 and a 200 day simple moving average of $125.81. EOG Resources has a one year low of $101.59 and a one year high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

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

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC acquired a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $258,000. Quantbot Technologies LP acquired a new position in shares of EOG Resources during the 2nd quarter worth about $349,000. Gamco Investors INC. ET AL lifted its stake in EOG Resources by 216.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after purchasing an additional 4,485 shares during the last quarter. NewEdge Advisors LLC lifted its stake in EOG Resources by 2.0% in the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock valued at $2,725,000 after purchasing an additional 444 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after purchasing an additional 15,250 shares during the period. 89.91% of the stock is owned by institutional investors.

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.