How JP Morgan Currently Rates EOG Resources (NYSE:EOG)
Analysts at JP Morgan initiated coverage for shares of EOG Resources (NYSE:EOG) in a recent research report sent to investors on 9 December. The equities firm set a Neutral rating on the $42.95B market cap firm.
From a total of 34 analysts covering EOG Resources (NYSE:EOG) stock, 27 rate it a ”Buy”, 0 a “Sell”, and 13 a ”Hold”. This means that 68% of the ratings are positive. The highest target price is $120 while the lowest target price is $74. The mean of all analyst targets is $93.5 with a 19.76% above today’s ($78.07) stock price. EOG Resources was the topic of 22 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Raymond James downgraded shares on November 9 to “Market Perform” rating. CLSA upgraded shares to “Underperform” rating and $83 target share price in a report from an August 10. Argus Research maintained EOG stock in a recent report from November 2 with “Buy” rating. Finally, S&P Research maintained the stock with “Buy” rating in a report issued on an August 10.
Approximately 3.83M shares of stock traded hands or 0.52% up from the average. EOG Resources Inc (NYSE:EOG) has declined 18.90% since May 6, 2015 and is downtrending. It has underperformed by 18.10% the S&P500.
The overall sentiment of institutions has decreased to 0.92 in Q2 2015. Its down 0.12, from 1.04 in 2015Q2. The ratio dived, as 93 institutions have sold all the shares of EOG Resources Inc that they owned while 332 funds have taken shares off the table. 75 funds have purchased shares for the first time while 318 added to their positions. These institutions now hold 488.36 million shares or 3.57% more than the 471.53 million shares they owned in 2015Q2.
The Fund Astenbeck Capital Management Llc currently is holding shares equating to 16.47% of its total portfolio in EOG Resources Inc representing a total of 261,872 shares. Another fund,Brenham Capital Management L.P., is holding a total of 800,000 shares equating to 12.52% of their holdings. Additionally, Arosa Capital Management Lp has a 709,259 share stake in EOG Resources Inc which represents 7.46% of their total portfolio. The Fund, Tbp Investments Management Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 7.12% of their total portfolio. Finally Encompass Capital Advisors Llc, a fund which is based in the state of New York reported a total holdings of 499,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 24, 2015, shareholders of EOG Resources Inc have witnessed 0 insider purchases, and a total of 3 insider sales equating to a net activity of approximately $1.02 million . Crisp Charles R sold 2,638 shares worth approximately $201,113. Janssen Ann D. sold 678 shares worth approximately $54,243. Thomas Gary L sold 8,655 shares worth approximately $764,099. Helms Lloyd W Jr sold 5,000 shares worth approximately $447,731. The company insider Trice David W sold 1,335 shares worth $121,651.
EOG Resources, Inc. , is engaged in the exploration, development, production and marketing of natural gas and crude oil. The company has a market cap of $42.95 billion. The Firm operates in producing basins in the United States, Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China) and the Argentine Republic (Argentina), among others. It currently has negative earnings. As of December 31, 2014, EOG’s total estimated net proved reserves were 2,497 million barrels of oil equivalent (MMBoe), of which 1,140 million barrels (MMBbl) are crude oil and condensate reserves, 467 MMBbl are natural gas liquids (NGLs) reserves and 5,343 billion cubic feet, or 890 MMBoe, are natural gas reserves.
According to Zacks Investment Research, “EOG Resources, Inc. is engaged, either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations, in the exploration for, and the development, production and marketing of, natural gas and crude oil primarily in major producing basins in the United States, as well as in Canada and Trinidad. The company’s business strategy is to maximize the rate of return on investment of capital by controlling all operating and capital costs.” Get a free copy of the Zacks research report on EOG Resources Inc (EOG).