EOG Resources, Inc. (EOG) Upgraded to “Overweight” by Morgan Stanley
Morgan Stanley upgraded shares of EOG Resources, Inc. (NYSE:EOG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday. Morgan Stanley currently has $106.00 target price on the energy exploration company’s stock, up from their previous target price of $97.00.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $111.00 price target on shares of EOG Resources in a report on Friday, May 26th. BMO Capital Markets reiterated a buy rating and issued a $95.00 price target on shares of EOG Resources in a report on Friday, August 4th. ValuEngine upgraded shares of EOG Resources from a sell rating to a hold rating in a report on Friday, June 2nd. Credit Suisse Group set a $108.00 price target on shares of EOG Resources and gave the company a hold rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a hold rating and issued a $95.00 price target on shares of EOG Resources in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $108.38.
Shares of EOG Resources (NYSE EOG) opened at 88.47 on Tuesday. EOG Resources has a 52-week low of $81.99 and a 52-week high of $109.37. The company’s 50-day moving average is $88.34 and its 200 day moving average is $91.88. The firm’s market cap is $51.09 billion.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.51 billion. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) EPS. On average, analysts expect that EOG Resources will post $0.60 earnings per share for the current fiscal year.
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In other news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $88.22, for a total transaction of $352,880.00. Following the transaction, the executive vice president now directly owns 70,987 shares in the company, valued at approximately $6,262,473.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Waldron LP raised its holdings in EOG Resources by 81.7% in the first quarter. Waldron LP now owns 4,522 shares of the energy exploration company’s stock valued at $431,000 after buying an additional 2,033 shares during the period. WASHINGTON TRUST Co purchased a new position in EOG Resources in the first quarter valued at approximately $5,559,000. Commerzbank Aktiengesellschaft FI raised its holdings in EOG Resources by 12.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 104,791 shares of the energy exploration company’s stock valued at $10,222,000 after buying an additional 11,397 shares during the period. Webster Bank N. A. raised its holdings in EOG Resources by 92.2% in the first quarter. Webster Bank N. A. now owns 1,240 shares of the energy exploration company’s stock valued at $121,000 after buying an additional 595 shares during the period. Finally, State Treasurer State of Michigan raised its holdings in EOG Resources by 0.5% in the first quarter. State Treasurer State of Michigan now owns 189,428 shares of the energy exploration company’s stock valued at $18,479,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 85.48% of the company’s stock.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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