EOG Resources (NYSE:EOG) Downgraded by StockNews.com

EOG Resources (NYSE:EOG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

EOG has been the topic of several other research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. Morgan Stanley lowered their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday. Piper Sandler reduced their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Susquehanna decreased their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Wolfe Research initiated coverage on EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Fourteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $143.58.

EOG Resources Trading Up 1.9 %

EOG stock traded up $2.30 during mid-day trading on Monday, hitting $121.67. 4,426,474 shares of the company were exchanged, compared to its average volume of 3,178,686. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market capitalization of $69.18 billion, a P/E ratio of 9.61, a PEG ratio of 2.95 and a beta of 1.28. The business has a fifty day simple moving average of $125.85 and a 200-day simple moving average of $126.39. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. On average, equities research analysts predict that EOG Resources will post 12.2 earnings per share for the current fiscal year.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,537 shares of company stock worth $2,751,612. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently added to or reduced their stakes in EOG. Riverview Trust Co acquired a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 2nd quarter worth $28,000. Gladius Capital Management LP acquired a new position in shares of EOG Resources during the 2nd quarter worth $30,000. Sachetta LLC purchased a new position in shares of EOG Resources in the 4th quarter valued at about $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of EOG Resources in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.