Raymond James Thinks EOG Resources’ Stock is Going to Recover


In a report released today, John Freeman from Raymond James maintained a Buy rating on EOG Resources (EOG), with a price target of $55.00. The company’s shares closed last Wednesday at $36.13, close to its 52-week low of $27.00.

According to TipRanks.com, Freeman ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.5% and a 20.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Concho Resources.

Currently, the analyst consensus on EOG Resources is a Moderate Buy with an average price target of $60.36, implying a 66.3% upside from current levels. In a report issued on October 12, RBC Capital also maintained a Buy rating on the stock with a $69.00 price target.

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Based on EOG Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.21 billion and GAAP net loss of $909 million. In comparison, last year the company earned revenue of $4.49 billion and had a net profit of $848 million.

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EOG Resources, Inc. engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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