EOG Resources (NYSE:EOG – Get Rating) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Thursday, MarketBeat reports. The brokerage currently has a $156.00 target price on the energy exploration company's stock, up from their previous target price of $152.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 27.28% from the company's previous close.
EOG has been the subject of several other research reports. Morgan Stanley lowered their price objective on shares of EOG Resources from $151.00 to $149.00 and set an "equal weight" rating for the company in a research note on Monday, August 29th. Royal Bank of Canada lowered shares of EOG Resources from an "outperform" rating to a "sector perform" rating and set a $150.00 price target for the company. in a research note on Wednesday, July 6th. MKM Partners boosted their price target on shares of EOG Resources from $122.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, August 26th. Johnson Rice upgraded shares of EOG Resources from a "hold" rating to a "buy" rating and boosted their price target for the company from $155.00 to $165.00 in a research note on Tuesday, May 24th. Finally, Mizuho decreased their price target on shares of EOG Resources from $173.00 to $167.00 and set a "buy" rating for the company in a research note on Thursday, August 18th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $145.58.
Get EOG Resources alerts:EOG Resources Stock Performance
NYSE:EOG opened at $122.56 on Thursday. The company has a fifty day moving average of $112.19 and a 200-day moving average of $118.50. The firm has a market capitalization of $71.83 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.24 and a beta of 1.55. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. EOG Resources has a twelve month low of $70.41 and a twelve month high of $147.99.
EOG Resources (NYSE:EOG – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($1.51). The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $5.58 billion. EOG Resources had a net margin of 25.71% and a return on equity of 32.03%. The business's revenue was up 79.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, sell-side analysts anticipate that EOG Resources will post 15.89 EPS for the current year.Hedge Funds Weigh In On EOG Resources
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lumature Wealth Partners LLC purchased a new position in shares of EOG Resources in the 1st quarter worth about $28,000. BDO Wealth Advisors LLC boosted its holdings in shares of EOG Resources by 476.2% in the 1st quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company's stock worth $29,000 after buying an additional 200 shares during the last quarter. Miller Wealth Advisors LLC boosted its holdings in shares of EOG Resources by 126.1% in the 2nd quarter. Miller Wealth Advisors LLC now owns 269 shares of the energy exploration company's stock worth $30,000 after buying an additional 150 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in EOG Resources during the first quarter valued at about $33,000. Finally, HM Payson & Co. purchased a new stake in EOG Resources during the first quarter valued at about $33,000. 88.30% of the stock is owned by hedge funds and other institutional investors.
EOG Resources Company Profile
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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.
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