EOG Resources (NYSE:EOG – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.
Several other brokerages also recently commented on EOG. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company set a $196.00 target price on EOG Resources and gave the company an “overweight” rating in a report on Wednesday, May 13th. Barclays raised their target price on EOG Resources from $140.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday. Weiss Ratings upgraded shares of EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Finally, DA Davidson lifted their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $156.39.
Read Our Latest Stock Analysis on EOG
EOG Resources Price Performance
EOG Resources (NYSE:EOG – Get Free Report) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the firm earned $2.87 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that EOG Resources will post 15.67 earnings per share for the current year.
Insider Activity
In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ann D. Janssen sold 4,161 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,230 shares of company stock worth $2,272,568. Insiders own 0.14% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Glenmede Trust Co. NA lifted its stake in shares of EOG Resources by 3.8% in the first quarter. Glenmede Trust Co. NA now owns 13,294 shares of the energy exploration company’s stock worth $1,922,000 after acquiring an additional 491 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its stake in shares of EOG Resources by 9.0% in the first quarter. Summit Financial Wealth Advisors LLC now owns 2,382 shares of the energy exploration company’s stock worth $344,000 after acquiring an additional 197 shares in the last quarter. Summitry LLC lifted its stake in shares of EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock worth $699,000 after acquiring an additional 73 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of EOG Resources in the first quarter worth about $4,474,000. Finally, Montchanin Asset Management LLC acquired a new position in shares of EOG Resources in the first quarter worth about $369,000. Institutional investors and hedge funds own 89.91% of the company’s stock.
EOG Resources Company Profile
EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).
As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.
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