The Goldman Sachs Group Cuts EOG Resources (NYSE:EOG) Price Target to $123.00

by · The Cerbat Gem

EOG Resources (NYSE:EOG – Get Free Report) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $125.00 to $123.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 15.25% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Scotiabank set a $123.00 target price on shares of EOG Resources and gave the company a “sector perform” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on EOG Resources from $131.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Johnson Rice decreased their price objective on EOG Resources from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, December 5th. Finally, Jefferies Financial Group set a $140.00 target price on shares of EOG Resources in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.48.

View Our Latest Analysis on EOG

EOG Resources Stock Down 1.2%

Shares of NYSE:EOG opened at $106.72 on Thursday. The business’s 50 day moving average is $106.78 and its 200 day moving average is $112.35. The stock has a market cap of $57.91 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 8.82 and a beta of 0.49. EOG Resources has a 52-week low of $101.59 and a 52-week high of $135.87. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG – Get Free Report) last issued its earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the business earned $2.89 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that EOG Resources will post 11.47 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the completion of the transaction, the chief operating officer owned 54,979 shares in the company, valued at $5,810,180.72. This trade represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Demars Financial Group LLC boosted its stake in shares of EOG Resources by 3.1% in the fourth quarter. Demars Financial Group LLC now owns 6,565 shares of the energy exploration company’s stock worth $689,000 after buying an additional 197 shares during the last quarter. Culbertson A N & Co. Inc. grew its stake in shares of EOG Resources by 0.9% during the 4th quarter. Culbertson A N & Co. Inc. now owns 34,151 shares of the energy exploration company’s stock worth $3,586,000 after purchasing an additional 318 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of EOG Resources by 84.9% during the 4th quarter. Raleigh Capital Management Inc. now owns 919 shares of the energy exploration company’s stock valued at $96,000 after purchasing an additional 422 shares in the last quarter. Delphi Management Inc. MA lifted its stake in shares of EOG Resources by 18.4% in the 4th quarter. Delphi Management Inc. MA now owns 11,619 shares of the energy exploration company’s stock valued at $1,220,000 after purchasing an additional 1,805 shares during the period. Finally, NovaPoint Capital LLC boosted its holdings in EOG Resources by 6.4% during the fourth quarter. NovaPoint Capital LLC now owns 31,521 shares of the energy exploration company’s stock worth $3,310,000 after buying an additional 1,888 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

(Get Free Report)

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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