Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $132.00

EOG Resources (NYSE:EOG) had its price objective cut by equities researchers at Morgan Stanley from $134.00 to $132.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target points to a potential upside of 9.33% from the company’s current price.

A number of other research firms have also commented on EOG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. Susquehanna dropped their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. KeyCorp started coverage on EOG Resources in a research note on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Wolfe Research started coverage on EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped their price objective on EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.58.

EOG Resources Price Performance

Shares of EOG traded up $1.37 during midday trading on Monday, hitting $120.74. The company’s stock had a trading volume of 1,974,986 shares, compared to its average volume of 3,163,365. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company’s fifty day simple moving average is $125.93 and its two-hundred day simple moving average is $126.34. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $68.65 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that EOG Resources will post 12.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at $4,434,135.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,537 shares of company stock worth $2,751,612. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several large investors have recently modified their holdings of EOG. Aveo Capital Partners LLC grew its stake in shares of EOG Resources by 4.8% in the fourth quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock worth $265,000 after purchasing an additional 101 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in EOG Resources by 118.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,430 shares of the energy exploration company’s stock worth $778,000 after buying an additional 3,487 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in EOG Resources by 32.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 78,495 shares of the energy exploration company’s stock worth $9,494,000 after buying an additional 19,154 shares during the period. Brown Advisory Inc. lifted its holdings in EOG Resources by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 38,095 shares of the energy exploration company’s stock worth $4,608,000 after buying an additional 394 shares during the period. Finally, ING Groep NV lifted its holdings in EOG Resources by 52,792.9% in the fourth quarter. ING Groep NV now owns 51,835 shares of the energy exploration company’s stock worth $6,269,000 after buying an additional 51,737 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Company Profile

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.