Wells Fargo & Company Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price dropped by equities research analysts at Wells Fargo & Company from $150.00 to $146.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 18.25% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley dropped their price objective on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Piper Sandler cut their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. UBS Group lowered their target price on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Williams Trading set a $154.00 target price on shares of EOG Resources in a research report on Wednesday, March 5th. Finally, Mizuho dropped their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $146.00.

EOG Resources Stock Performance

EOG Resources stock traded down $0.80 during trading hours on Thursday, reaching $123.47. 288,884 shares of the company were exchanged, compared to its average volume of 2,992,889. EOG Resources has a 12 month low of $115.78 and a 12 month high of $139.67. The firm has a market cap of $68.39 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 3.58 and a beta of 1.25. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $129.67 and a 200 day moving average of $127.70.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. As a group, research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current year.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Trading of EOG Resources

Several large investors have recently made changes to their positions in the company. Financial Life Planners acquired a new stake in EOG Resources in the fourth quarter valued at about $25,000. Y.D. More Investments Ltd increased its position in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares during the period. Mainstream Capital Management LLC bought a new position in shares of EOG Resources during the fourth quarter valued at $25,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources during the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth $27,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

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.