Northland Securities initiated coverage on shares of EOG Resources (NYSE:EOG) in a research note released on Monday, Benzinga reports. The brokerage issued a market perform rating and a $56.00 price target on the energy exploration company’s stock.

Several other research firms have also issued reports on EOG. Piper Sandler increased their price objective on shares of EOG Resources from $51.00 to $58.00 and gave the stock a neutral rating in a research report on Thursday, August 13th. Bank of America lowered shares of EOG Resources from a buy rating to a neutral rating in a research report on Monday, June 1st. Wells Fargo & Company increased their price objective on shares of EOG Resources from $55.00 to $56.00 and gave the stock an equal weight rating in a research report on Thursday, June 25th. SunTrust Banks raised shares of EOG Resources from a hold rating to a buy rating and increased their price objective for the stock from $50.00 to $70.00 in a research report on Friday, June 19th. Finally, Zacks Investment Research raised shares of EOG Resources from a hold rating to a buy rating and set a $53.00 price objective for the company in a research report on Thursday, July 23rd. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. EOG Resources currently has an average rating of Buy and an average price target of $64.17.

NYSE:EOG opened at $41.19 on Monday. The company has a quick ratio of 1.82, a current ratio of 2.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.98 billion, a P/E ratio of 67.53, a P/E/G ratio of 9.21 and a beta of 1.95. EOG Resources has a fifty-two week low of $27.00 and a fifty-two week high of $89.54. The firm’s 50 day moving average is $45.48 and its two-hundred day moving average is $47.01.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 6th. The energy exploration company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.18). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $2.30 billion. EOG Resources had a return on equity of 7.70% and a net margin of 2.44%. The business’s revenue for the quarter was down 76.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS. Research analysts forecast that EOG Resources will post 0.51 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in EOG. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in EOG Resources by 7.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,049 shares of the energy exploration company’s stock worth $5,569,000 after acquiring an additional 10,369 shares in the last quarter. Private Capital Group LLC grew its holdings in EOG Resources by 55.2% during the 1st quarter. Private Capital Group LLC now owns 1,332 shares of the energy exploration company’s stock worth $48,000 after acquiring an additional 474 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in EOG Resources during the 1st quarter worth $64,000. Bartlett & Co. LLC acquired a new position in EOG Resources during the 1st quarter worth $122,000. Finally, Page Arthur B grew its holdings in EOG Resources by 52.1% during the 1st quarter. Page Arthur B now owns 8,535 shares of the energy exploration company’s stock worth $308,000 after acquiring an additional 2,923 shares in the last quarter. 87.68% of the stock is owned by institutional investors.

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.

Further Reading: Black Swan

Analyst Recommendations for EOG Resources (NYSE:EOG)

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