Mizuho Cuts EOG Resources (NYSE:EOG) Price Target to $133.00

EOG Resources (NYSE:EOG) had its target price decreased by Mizuho from $140.00 to $133.00 in a research note released on Monday morning, MarketBeat reports. Mizuho currently has a neutral rating on the energy exploration company’s stock.

Several other research firms have also recently weighed in on EOG. Melius started coverage on EOG Resources in a research report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price objective on the stock. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. Barclays boosted their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. KeyCorp lowered their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Finally, Bank of America dropped their price target on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.48.

EOG Resources Trading Down 0.9%

EOG Resources stock opened at $119.81 on Monday. The stock has a 50-day simple moving average of $119.65 and a 200 day simple moving average of $117.98. The stock has a market capitalization of $65.42 billion, a P/E ratio of 11.64, a PEG ratio of 9.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. Analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of EOG Resources by 0.7% during the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock worth $6,922,633,000 after purchasing an additional 348,895 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the period. Alliancebernstein L.P. grew its stake in EOG Resources by 4.2% during the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock worth $736,712,000 after purchasing an additional 249,984 shares during the period. Northern Trust Corp increased its holdings in EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock worth $779,433,000 after purchasing an additional 358,916 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company’s stock valued at $709,201,000 after buying an additional 60,454 shares during the period. Institutional investors and hedge funds 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.