EOG Resources (NYSE:EOG) Given New $146.00 Price Target at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its target price decreased by Wells Fargo & Company from $150.00 to $146.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 18.25% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Williams Trading set a $154.00 price target on shares of EOG Resources in a report on Wednesday, March 5th. Raymond James lifted their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler lowered their price target on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Barclays lowered their target price on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $146.00.

EOG Resources Trading Down 0.6 %

NYSE EOG traded down $0.80 during mid-day trading on Thursday, reaching $123.47. 288,884 shares of the stock were exchanged, compared to its average volume of 2,992,889. The business’s fifty day simple moving average is $129.67 and its 200 day simple moving average is $127.70. EOG Resources has a 1-year low of $115.78 and a 1-year high of $139.67. The stock has a market capitalization of $68.39 billion, a PE ratio of 9.93, a PEG ratio of 3.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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 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 company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. On average, research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently modified their holdings of EOG. Capital World Investors increased its position in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. Geode Capital Management LLC raised its stake in EOG Resources by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after purchasing an additional 234,067 shares during the period. Northern Trust Corp lifted its holdings in shares of EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after purchasing an additional 159,216 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of EOG Resources by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after buying an additional 365,115 shares in the last quarter. Institutional investors and hedge funds 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.