UBS Group Increases EOG Resources (NYSE:EOG) Price Target to $78.00

EOG Resources (NYSE:EOG) had its price target upped by stock analysts at UBS Group from $59.00 to $78.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price target would suggest a potential upside of 53.97% from the company’s current price.

EOG has been the topic of a number of other reports. ValuEngine upgraded EOG Resources from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $113.00 to $39.00 in a research note on Tuesday, March 24th. Morgan Stanley upped their price target on EOG Resources from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Citigroup increased their price objective on EOG Resources from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Raymond James reduced their price objective on EOG Resources from $78.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Twelve investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.25.

Shares of EOG Resources stock opened at $50.66 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 1.51. The stock has a 50 day moving average of $52.34 and a 200 day moving average of $59.81. EOG Resources has a fifty-two week low of $27.00 and a fifty-two week high of $95.29. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 22.18 and a beta of 1.97.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 7th. The energy exploration company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.11). EOG Resources had a return on equity of 11.89% and a net margin of 11.69%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. Analysts forecast that EOG Resources will post 0.23 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its holdings in shares of EOG Resources by 2.4% during the first quarter. Capital Research Global Investors now owns 62,020,810 shares of the energy exploration company’s stock worth $2,227,784,000 after purchasing an additional 1,472,623 shares during the last quarter. Capital International Investors grew its holdings in shares of EOG Resources by 28.3% during the first quarter. Capital International Investors now owns 55,138,808 shares of the energy exploration company’s stock worth $1,980,582,000 after purchasing an additional 12,170,763 shares during the last quarter. BlackRock Inc. grew its holdings in shares of EOG Resources by 8.7% during the first quarter. BlackRock Inc. now owns 39,958,429 shares of the energy exploration company’s stock worth $1,435,306,000 after purchasing an additional 3,205,740 shares during the last quarter. State Street Corp grew its holdings in shares of EOG Resources by 8.5% during the first quarter. State Street Corp now owns 30,595,808 shares of the energy exploration company’s stock worth $1,099,001,000 after purchasing an additional 2,394,120 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of EOG Resources by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 17,268,965 shares of the energy exploration company’s stock worth $620,301,000 after purchasing an additional 636,408 shares during the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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