Piper Sandler Downgrades EOG Resources (NYSE:EOG) to Neutral

EOG Resources (NYSE:EOG) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat reports. They currently have a target price on the energy exploration company’s stock, down from their previous target price of .

EOG has been the subject of a number of other reports. SunTrust Banks downgraded shares of EOG Resources from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $60.00 in a report on Monday, March 9th. Morgan Stanley reduced their price objective on shares of EOG Resources from $91.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. Robert W. Baird reaffirmed a “buy” rating and set a $92.00 price objective on shares of EOG Resources in a report on Monday, March 2nd. TD Securities reduced their price objective on shares of EOG Resources from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Edward Jones downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $80.45.

Shares of NYSE:EOG traded down $0.16 during midday trading on Tuesday, reaching $39.53. 9,258,269 shares of the company’s stock were exchanged, compared to its average volume of 6,036,100. The company’s 50 day simple moving average is $57.83 and its two-hundred day simple moving average is $71.70. The firm has a market capitalization of $23.17 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.72 and a beta of 1.49. EOG Resources has a 12 month low of $27.00 and a 12 month high of $107.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, February 27th. The energy exploration company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.44 billion. EOG Resources had a net margin of 15.74% and a return on equity of 13.89%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. On average, research analysts anticipate that EOG Resources will post 2.47 earnings per share for the current year.

In other EOG Resources news, Director Charles R. Crisp sold 420 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $86.49, for a total value of $36,325.80. Following the completion of the sale, the director now owns 50,296 shares in the company, valued at approximately $4,350,101.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of EOG. Voya Investment Management LLC increased its position in EOG Resources by 1.0% in the 3rd quarter. Voya Investment Management LLC now owns 555,511 shares of the energy exploration company’s stock valued at $41,230,000 after acquiring an additional 5,568 shares in the last quarter. Voya Financial Advisors Inc. grew its position in shares of EOG Resources by 19.0% during the 3rd quarter. Voya Financial Advisors Inc. now owns 3,857 shares of the energy exploration company’s stock worth $289,000 after buying an additional 616 shares during the period. Redpoint Investment Management Pty Ltd grew its position in shares of EOG Resources by 1.7% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 43,336 shares of the energy exploration company’s stock worth $3,216,000 after buying an additional 742 shares during the period. J.P. Marvel Investment Advisors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $5,825,000. Finally, Virtu Financial LLC acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $1,396,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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