TD Cowen Raises EOG Resources (NYSE:EOG) Price Target to $144.00

EOG Resources (NYSE:EOG) had its target price hoisted by investment analysts at TD Cowen from $130.00 to $144.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the energy exploration company’s stock. TD Cowen’s target price would indicate a potential upside of 7.07% from the stock’s current price.

A number of other brokerages have also recently commented on EOG. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Tuesday, April 9th. Truist Financial cut their price target on EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, April 5th. TD Securities lowered their price target on shares of EOG Resources from $135.00 to $130.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Scotiabank downgraded shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. Finally, Citigroup increased their price objective on EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $142.27.

EOG Resources Trading Down 1.3 %

Shares of NYSE:EOG traded down $1.76 during midday trading on Tuesday, reaching $134.49. 602,649 shares of the company’s stock were exchanged, compared to its average volume of 3,316,589. The stock has a market cap of $77.36 billion, a price-to-earnings ratio of 10.35 and a beta of 1.40. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The firm’s 50 day simple moving average is $126.15 and its two-hundred day simple moving average is $122.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that EOG Resources will post 12.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EOG. Covestor Ltd raised its stake in shares of EOG Resources by 7.2% in the 3rd quarter. Covestor Ltd now owns 1,215 shares of the energy exploration company’s stock valued at $154,000 after acquiring an additional 82 shares during the period. Field & Main Bank raised its position in EOG Resources by 1.4% in the first quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock valued at $788,000 after purchasing an additional 83 shares during the period. ORG Partners LLC lifted its stake in shares of EOG Resources by 1.0% during the third quarter. ORG Partners LLC now owns 8,822 shares of the energy exploration company’s stock worth $1,118,000 after purchasing an additional 84 shares in the last quarter. Sandy Spring Bank lifted its stake in shares of EOG Resources by 1.0% during the third quarter. Sandy Spring Bank now owns 9,077 shares of the energy exploration company’s stock worth $1,151,000 after purchasing an additional 86 shares in the last quarter. Finally, Bison Wealth LLC boosted its position in shares of EOG Resources by 1.6% in the third quarter. Bison Wealth LLC now owns 5,384 shares of the energy exploration company’s stock worth $682,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.