EOG Resources (NYSE:EOG) Lifted to Buy at StockNews.com

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

EOG has been the topic of a number of other research reports. Morgan Stanley increased their target price on EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Raymond James lowered their target price on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Citigroup raised their price objective on EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday. Finally, TD Securities decreased their price objective on EOG Resources from $135.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Fourteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average target price of $142.27.

EOG Resources Price Performance

NYSE EOG traded up $0.78 during mid-day trading on Thursday, hitting $130.61. The stock had a trading volume of 3,663,095 shares, compared to its average volume of 3,388,864. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. The company has a market cap of $75.06 billion, a price-to-earnings ratio of 10.32 and a beta of 1.38. The company has a 50 day simple moving average of $128.48 and a 200 day simple moving average of $122.38. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.12. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. EOG Resources’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $2.69 EPS. Equities analysts forecast that EOG Resources will post 12.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC raised its position in EOG Resources by 6.6% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,219 shares of the energy exploration company’s stock valued at $412,000 after purchasing an additional 200 shares during the period. Midwest Professional Planners LTD. increased its position in shares of EOG Resources by 44.6% during the first quarter. Midwest Professional Planners LTD. now owns 6,559 shares of the energy exploration company’s stock worth $838,000 after acquiring an additional 2,022 shares during the last quarter. Ledyard National Bank purchased a new stake in shares of EOG Resources during the first quarter worth about $678,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of EOG Resources by 14.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 711,898 shares of the energy exploration company’s stock worth $91,052,000 after acquiring an additional 89,525 shares during the last quarter. Finally, Tradewinds LLC. purchased a new stake in shares of EOG Resources during the first quarter worth about $494,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.