Citigroup Lowers EOG Resources (NYSE:EOG) Price Target to $88.00

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EOG Resources (NYSE:EOG) had its price target decreased by equities research analysts at Citigroup from $93.00 to $88.00 in a report released on Wednesday, AnalystRatings.com reports. The firm presently has a “buy” rating on the energy exploration company’s stock. Citigroup‘s price objective would suggest a potential upside of 20.96% from the company’s previous close.

A number of other equities research analysts have also recently commented on EOG. Howard Weil started coverage on shares of EOG Resources in a report on Wednesday. They issued a “sector perform” rating for the company. KeyCorp reduced their price target on shares of EOG Resources from $110.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Raymond James reduced their price target on shares of EOG Resources from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. FinnCap restated a “corporate” rating on shares of EOG Resources in a report on Tuesday, October 29th. Finally, Scotiabank started coverage on shares of EOG Resources in a report on Tuesday. They issued a “sector perform” rating and a $86.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.64.

NYSE:EOG traded up $0.14 during trading hours on Wednesday, reaching $72.75. The company had a trading volume of 196,865 shares, compared to its average volume of 4,656,381. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The firm has a market cap of $42.95 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.65 and a beta of 1.34. The business’s 50-day simple moving average is $71.24 and its two-hundred day simple moving average is $81.70. EOG Resources has a twelve month low of $64.33 and a twelve month high of $108.78.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Wednesday, November 6th. The energy exploration company reported $1.13 EPS for the quarter, hitting analysts’ consensus estimates of $1.13. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.38 billion. EOG Resources had a net margin of 16.96% and a return on equity of 13.94%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the company posted $1.75 earnings per share. As a group, equities analysts predict that EOG Resources will post 4.74 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Knuff & Co LLC bought a new position in shares of EOG Resources during the second quarter valued at about $28,000. Quest Capital Management Inc. ADV bought a new stake in EOG Resources in the third quarter worth about $28,000. Truvestments Capital LLC bought a new stake in EOG Resources in the second quarter worth about $33,000. Tortoise Investment Management LLC bought a new stake in EOG Resources in the second quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in EOG Resources in the second quarter worth about $37,000. Hedge funds and other institutional investors own 86.36% 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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