EOG Resources (NYSE:EOG) Raised to Hold at ValuEngine

EOG Resources (NYSE:EOG) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday, ValuEngine reports.

EOG has been the topic of several other reports. Oppenheimer cut their target price on EOG Resources from $111.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Citigroup cut their target price on EOG Resources from $116.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. cut their target price on EOG Resources from $109.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. SunTrust Banks cut their target price on EOG Resources to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Finally, TheStreet cut EOG Resources from a “b-” rating to a “c” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. EOG Resources currently has a consensus rating of “Buy” and a consensus target price of $111.57.

Shares of EOG traded up $0.08 during trading hours on Wednesday, hitting $70.92. The company had a trading volume of 2,479,008 shares, compared to its average volume of 4,397,972. The firm has a market cap of $41.13 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.65 and a beta of 1.34. The stock’s 50 day moving average price is $76.20 and its 200 day moving average price is $87.14. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.20. EOG Resources has a 52-week low of $69.10 and a 52-week high of $133.53.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.02). The company had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.41 billion. EOG Resources had a return on equity of 16.25% and a net margin of 19.69%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 EPS. On average, research analysts expect that EOG Resources will post 4.95 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. First Hawaiian Bank bought a new stake in EOG Resources during the 3rd quarter valued at approximately $238,000. State of Alaska Department of Revenue lifted its holdings in shares of EOG Resources by 64.0% during the third quarter. State of Alaska Department of Revenue now owns 142,217 shares of the energy exploration company’s stock valued at $10,554,000 after purchasing an additional 55,478 shares during the last quarter. Cox Capital Mgt LLC lifted its holdings in shares of EOG Resources by 130.6% during the third quarter. Cox Capital Mgt LLC now owns 28,762 shares of the energy exploration company’s stock valued at $2,135,000 after purchasing an additional 16,291 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of EOG Resources by 2.0% during the second quarter. Macquarie Group Ltd. now owns 235,090 shares of the energy exploration company’s stock valued at $21,901,000 after purchasing an additional 4,608 shares during the last quarter. Finally, Bridger Capital Management LLC purchased a new position in shares of EOG Resources during the second quarter valued at approximately $453,000. 86.51% 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 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.

Further Reading: Buyback For Investors Defined

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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