Citigroup Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price cut by investment analysts at Citigroup from $134.00 to $125.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. Citigroup’s price target suggests a potential upside of 1.99% from the stock’s current price.

Other analysts have also issued reports about the company. Mizuho dropped their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Williams Trading set a $154.00 price objective on EOG Resources in a report on Wednesday, March 5th. Piper Sandler lowered their price objective on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Truist Financial boosted their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and an average price target of $145.33.

EOG Resources Trading Down 0.8 %

Shares of EOG opened at $122.57 on Monday. The stock’s 50-day moving average is $129.39 and its two-hundred day moving average is $127.51. The stock has a market cap of $67.89 billion, a PE ratio of 9.87, a P/E/G ratio of 3.58 and a beta of 1.25. EOG Resources has a 12 month low of $115.78 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

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

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of EOG. Wealthfront Advisers LLC increased its position in EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after buying an additional 2,792,092 shares during the last quarter. Capital World Investors grew its position in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares during the last quarter. Franklin Resources Inc. grew its position in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $171,193,000. Finally, Fisher Asset Management LLC grew its position in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.