EOG Resources (NYSE:EOG) Price Target Cut to $120.00 by Analysts at BMO Capital Markets

EOG Resources (NYSE:EOG) had its price objective decreased by research analysts at BMO Capital Markets from $126.00 to $120.00 in a report released on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the energy exploration company’s stock. BMO Capital Markets’ target price indicates a potential upside of 11.04% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Piper Sandler cut their target price on EOG Resources from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Evercore ISI upped their price objective on EOG Resources from $141.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Wells Fargo & Company cut their price objective on EOG Resources from $127.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Barclays set a $136.00 target price on EOG Resources and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $130.00 price target on shares of EOG Resources in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and a consensus target price of $137.25.

EOG Resources Stock Performance

EOG traded down $2.67 during trading on Monday, hitting $108.07. The stock had a trading volume of 4,637,524 shares, compared to its average volume of 3,909,484. The firm has a market capitalization of $58.64 billion, a P/E ratio of 10.76, a PEG ratio of 8.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62. EOG Resources has a twelve month low of $101.59 and a twelve month high of $138.18. The company’s 50-day moving average price is $106.81 and its 200 day moving average price is $112.91.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.42 by $0.29. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $2.89 EPS. On average, equities research analysts forecast that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $105.68, for a total value of $211,360.00. Following the sale, the chief operating officer owned 54,979 shares of the company’s stock, valued at $5,810,180.72. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EOG. Caitong International Asset Management Co. Ltd increased its position in EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock worth $26,000 after buying an additional 219 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of EOG Resources during the second quarter valued at $29,000. ORG Partners LLC increased its position in EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after purchasing an additional 88 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in EOG Resources during the 3rd quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in EOG Resources in the 2nd quarter valued at about $35,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

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.