EOG Resources (NYSE:EOG) Raised to Sector Outperform at Scotiabank

EOG Resources (NYSE:EOG - Get Free Report) was upgraded by analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $130.00 price objective on the energy exploration company's stock, down from their previous price objective of $150.00. Scotiabank's price objective indicates a potential upside of 20.96% from the stock's current price.

A number of other analysts have also recently weighed in on EOG. Morgan Stanley dropped their price objective on shares of EOG Resources from $142.00 to $136.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Benchmark reissued a "hold" rating on shares of EOG Resources in a report on Monday, January 13th. Citigroup cut their target price on EOG Resources from $134.00 to $125.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. Finally, Truist Financial lifted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Twelve 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 stock. According to MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and a consensus price target of $144.19.

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EOG Resources Stock Performance

Shares of EOG Resources stock traded down $0.17 during trading hours on Friday, reaching $107.47. The company's stock had a trading volume of 3,192,144 shares, compared to its average volume of 3,714,598. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The company's 50 day simple moving average is $123.87 and its 200 day simple moving average is $126.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market cap of $59.28 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.19. The company 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, analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently bought and sold shares of EOG. Simon Quick Advisors LLC raised its holdings in EOG Resources by 14.8% during the 1st quarter. Simon Quick Advisors LLC now owns 5,253 shares of the energy exploration company's stock worth $674,000 after buying an additional 677 shares during the period. Arvest Investments Inc. lifted its position in EOG Resources by 3.6% in the 1st quarter. Arvest Investments Inc. now owns 13,905 shares of the energy exploration company's stock valued at $1,783,000 after acquiring an additional 480 shares in the last quarter. Coerente Capital Management boosted its stake in EOG Resources by 0.7% in the 1st quarter. Coerente Capital Management now owns 123,365 shares of the energy exploration company's stock worth $15,820,000 after purchasing an additional 881 shares during the period. Focus Financial Network Inc. increased its holdings in EOG Resources by 16.6% during the 1st quarter. Focus Financial Network Inc. now owns 2,195 shares of the energy exploration company's stock worth $281,000 after purchasing an additional 313 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new position in shares of EOG Resources during the first quarter worth about $108,000. Institutional investors own 89.91% of the company's stock.

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.