EOG Resources (NYSE:EOG) Lifted to Buy at StockNews.com

EOG Resources (NYSE:EOG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other analysts also recently commented on the company. Scotiabank downgraded EOG Resources from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $135.00 to $155.00 in a research report on Thursday, April 11th. Piper Sandler raised their price objective on EOG Resources from $141.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. TD Securities reduced their price objective on EOG Resources from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. TD Cowen raised their price objective on EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, Mizuho raised their price objective on EOG Resources from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.27.

EOG Resources Stock Performance

EOG traded up $0.78 during midday trading on Thursday, reaching $130.61. The company’s stock had a trading volume of 3,663,095 shares, compared to its average volume of 3,388,864. The stock has a market cap of $75.06 billion, a P/E ratio of 10.32 and a beta of 1.38. The company has a fifty day simple moving average of $128.48 and a 200 day simple moving average of $122.38. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. EOG Resources has a twelve month low of $106.32 and a twelve month high of $139.67.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $5.91 billion. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.69 EPS. Research analysts expect that EOG Resources will post 12.14 earnings per share for the current year.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC increased its holdings in EOG Resources by 6.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,219 shares of the energy exploration company’s stock valued at $412,000 after purchasing an additional 200 shares in the last quarter. Midwest Professional Planners LTD. increased its holdings in EOG Resources by 44.6% during the 1st quarter. Midwest Professional Planners LTD. now owns 6,559 shares of the energy exploration company’s stock valued at $838,000 after purchasing an additional 2,022 shares in the last quarter. Ledyard National Bank acquired a new stake in EOG Resources during the 1st quarter valued at $678,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in EOG Resources by 14.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 711,898 shares of the energy exploration company’s stock valued at $91,052,000 after purchasing an additional 89,525 shares in the last quarter. Finally, Tradewinds LLC. acquired a new stake in EOG Resources during the 1st quarter valued at $494,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.