Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $142.00

EOG Resources (NYSE:EOG - Get Free Report) had its target price decreased by Morgan Stanley from $143.00 to $142.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the energy exploration company's stock. Morgan Stanley's target price indicates a potential upside of 18.06% from the company's current price.

A number of other research analysts have also commented on the stock. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. Bank of America reiterated a "neutral" rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Mizuho dropped their price objective on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Wolfe Research raised shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Finally, Piper Sandler raised their price target on shares of EOG Resources from $140.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Twelve 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. According to MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.80.

EOG Resources Stock Performance

Shares of EOG stock traded down $6.66 on Monday, reaching $120.28. The stock had a trading volume of 7,431,360 shares, compared to its average volume of 3,039,013. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $129.31 and its two-hundred day moving average is $127.85. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources has a 12 month low of $115.40 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly 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. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. On average, research analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources announced that its board has authorized a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were 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 in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in EOG Resources in the fourth quarter worth $26,062,000. Heck Capital Advisors LLC acquired a new position in shares of EOG Resources during the fourth quarter valued at about $78,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources during the fourth quarter valued at about $36,000. American Trust grew its holdings in shares of EOG Resources by 7.9% during the fourth quarter. American Trust now owns 29,952 shares of the energy exploration company's stock valued at $3,672,000 after buying an additional 2,183 shares during the last quarter. Finally, Ascent Group LLC grew its holdings in shares of EOG Resources by 5.5% during the fourth quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company's stock valued at $2,169,000 after buying an additional 924 shares during the last quarter. 89.91% of the stock is currently 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.