Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $136.00

EOG Resources (NYSE:EOG) had its price objective lowered by investment analysts at Morgan Stanley from $142.00 to $136.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target indicates a potential upside of 7.21% from the company’s previous close.

EOG has been the topic of several other reports. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler decreased their target price on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Raymond James upped their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and an average price target of $144.67.

EOG Resources Price Performance

EOG stock traded down $2.33 during trading on Thursday, hitting $126.85. The stock had a trading volume of 640,835 shares, compared to its average volume of 3,345,554. EOG Resources has a twelve month low of $115.78 and a twelve month high of $139.67. The company’s 50-day moving average price is $128.65 and its two-hundred day moving average price is $127.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $70.27 billion, a P/E ratio of 10.21, a PEG ratio of 3.58 and a beta of 1.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. As a group, research analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of EOG Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Insight Inv LLC raised its holdings in shares of EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after buying an additional 75 shares during the last quarter. Essex Financial Services Inc. raised its stake in EOG Resources by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after acquiring an additional 79 shares during the last quarter. Valmark Advisers Inc. grew its stake in shares of EOG Resources by 2.6% in the 4th quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after purchasing an additional 79 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares during the period. Finally, 1ST Source Bank raised its stake in shares of EOG Resources by 1.5% during the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock worth $656,000 after purchasing an additional 80 shares during the last quarter. 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.