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

EOG Resources (NYSE:EOG) had its price objective hoisted by equities research analysts at Morgan Stanley from $131.00 to $132.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target points to a potential upside of 2.90% from the stock’s current price.

Several other research analysts have also weighed in on the company. Wells Fargo & Company lowered EOG Resources from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $150.00 to $130.00 in a research report on Thursday, December 14th. KeyCorp lowered their price objective on EOG Resources from $157.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. JPMorgan Chase & Co. increased their price objective on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho decreased their target price on EOG Resources from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Finally, UBS Group decreased their target price on EOG Resources from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.20.

EOG Resources Stock Performance

EOG traded up $1.89 during trading on Thursday, reaching $128.28. 1,562,129 shares of the company were exchanged, compared to its average volume of 3,471,829. The stock has a market cap of $74.40 billion, a P/E ratio of 9.84 and a beta of 1.39. The firm has a 50 day moving average of $116.01 and a 200 day moving average of $121.41. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. EOG Resources has a 52 week low of $106.32 and a 52 week high of $136.79.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The company had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that EOG Resources will post 11.43 EPS for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortis Capital Advisors LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at $28,000. Lumature Wealth Partners LLC acquired a new stake in shares of EOG Resources in the 1st quarter valued at $28,000. McIlrath & Eck LLC boosted its position in shares of EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Peoples Bank KS bought a new position in shares of EOG Resources in the 3rd quarter worth $31,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of EOG Resources by 530.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 212 shares during the last quarter. 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.