Morgan Stanley Increases EOG Resources (NYSE:EOG) Price Target to $73.00

EOG Resources (NYSE:EOG) had its price objective hoisted by Morgan Stanley from $70.00 to $73.00 in a report released on Monday, PriceTargets.com reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.46% from the company’s current price.

Other research analysts have also recently issued reports about the company. Truist raised their target price on EOG Resources from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, December 29th. KeyCorp raised their target price on EOG Resources from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 17th. Tudor Pickering reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, March 8th. Piper Sandler raised their target price on EOG Resources from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 22nd. Finally, Citigroup increased their price objective on EOG Resources from $72.00 to $88.00 in a research note on Tuesday, March 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.69.

EOG opened at $68.57 on Monday. EOG Resources has a 1-year low of $31.22 and a 1-year high of $77.14. The company has a current ratio of 1.69, a quick ratio of 1.47 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $40.02 billion, a price-to-earnings ratio of -131.86 and a beta of 2.09. The business has a 50 day moving average of $72.33 and a 200-day moving average of $55.25.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, February 25th. The energy exploration company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.38 by $0.33. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.90 billion. EOG Resources had a positive return on equity of 5.86% and a negative net margin of 2.47%. Equities analysts predict that EOG Resources will post 1.02 EPS for the current year.

In other EOG Resources news, EVP Michael P. Donaldson sold 6,223 shares of the firm’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $74.98, for a total transaction of $466,600.54. Following the transaction, the executive vice president now owns 119,184 shares in the company, valued at $8,936,416.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Lloyd W. Helms, Jr. sold 8,623 shares of the firm’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $74.74, for a total value of $644,483.02. Following the transaction, the chief operating officer now owns 121,239 shares in the company, valued at approximately $9,061,402.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,119 shares of company stock worth $1,356,231. 0.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EOG. Wolff Wiese Magana LLC bought a new position in EOG Resources during the fourth quarter worth about $25,000. Vantage Consulting Group Inc bought a new position in EOG Resources during the fourth quarter worth about $25,000. Winslow Evans & Crocker Inc. boosted its holdings in EOG Resources by 1,136.4% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 544 shares of the energy exploration company’s stock worth $27,000 after buying an additional 500 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new position in EOG Resources during the first quarter worth about $31,000. Finally, ELM Advisors LLC bought a new position in EOG Resources during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 87.69% of the company’s stock.

EOG Resources Company Profile

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; the Republic of Trinidad and Tobago; the People's Republic of China; and the Sultanate of Oman.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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