Mizuho Lowers EOG Resources Price Target to $150.00 for 2023.
March 18, 2023
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Mizuho recently lowered their price target for EOG ($NYSE:EOG) Resources to $150.00 for the year 2023. EOG Resources is a leading exploration and production company, specializing in the development and production of natural gas, oil, and natural gas liquids. The new reduced price target reflects the challenging market conditions that exist in the energy industry. The current oil prices have caused many companies to reduce their activity, leading to decreased production and decreased profits. Despite the difficult market conditions, EOG Resources has continued to remain competitive, implementing cost-saving measures and adapting to the changing market environment. EOG Resources has continued to invest in its operations, including increasing its acreage in core areas and exploring new opportunities in unconventional resource plays.
The company is also focused on developing new technologies to enhance its operations, such as digitizing its operations and investing in automation. By adopting a disciplined approach in their operations and making strategic investments, EOG Resources is well-positioned to continue to be a leader in the energy industry despite the reduced price target from Mizuho. This reduced price target should not be seen as an indication of declining value but rather as a reflection of the current market conditions. With the right strategies and investments, EOG Resources can remain competitive in the industry and generate value for its shareholders in the years to come.
Stock Price
On Monday, news sentiment surrounding EOG Resources was mostly positive, with the stock opening at $109.3 and closing at $109.1, down slightly by 2.7% from its last closing price of 112.2. However, Mizuho has recently lowered its price target for the company to $150.00 for 2023, citing a variety of factors such as the company’s current market volatility and performance. Investors should pay close attention to this new target, as it could have an impact on the company’s long-term valuation. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eog Resources. More…
| Total Revenues | Net Income | Net Margin |
| 29.49k | 7.76k | 37.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eog Resources. More…
| Operations | Investing | Financing |
| 11.09k | -5.06k | -5.27k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eog Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 41.37k | 16.59k | 42.16 |
Key Ratios Snapshot
Some of the financial key ratios for Eog Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.3% | 53.9% | 34.2% |
| FCF Margin | ROE | ROA |
| 20.7% | 25.9% | 15.2% |
Analysis
At GoodWhale, we recently conducted an analysis of EOG Resources to determine their wellbeing as an investment. Based on our Risk Rating, we determined that they are a medium risk investment in terms of financial and business aspects.GoodWhale has also detected two risk warnings in the income sheet and balance sheet of EOG Resources. To gain access to these warnings and further information, become a registered user of GoodWhale and explore the full report. More…
Peers
EOG Resources Inc is an American petroleum and natural gas exploration and production company with operations in the United States, Trinidad, the United Kingdom, and China. One of the largest American independents, its principal business is exploring for, developing, and producing crude oil and natural gas. EOG Resources is organized as a Delaware corporation and is headquartered in Houston, Texas.
The company’s competitors include Ovintiv Inc, Continental Resources Inc, Hess Corp.
– Ovintiv Inc ($TSX:OVV)
Ovintiv Inc is an oil and gas exploration and production company with a market cap of 18.04B as of 2022. The company has a Return on Equity of 33.39%. Ovintiv Inc is engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. The company has operations in the United States, Canada, Europe and South America.
– Continental Resources Inc ($NYSE:CLR)
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas. It operates through the following segments: Bakken, SCOOP Woodford, and Other. The company was founded by Harold Hamm in 1967 and is headquartered in Oklahoma City, OK.
– Hess Corp ($NYSE:HES)
Hess Corporation is an American oil and gas company with operations in the United States, Canada, Equatorial Guinea, the United Kingdom, Indonesia, and Denmark. The company is headquartered in New York City.
Hess has a market cap of $39.94 billion as of 2022 and a return on equity of 29.47%. The company is engaged in the exploration, production, marketing, and refining of crude oil and natural gas. Hess also owns and operates a refinery in St. Croix, U.S. Virgin Islands.
Summary
Investors have recently been given a new price target for investing in EOG Resources; Mizuho lowered their target to $150.00 for 2023. Overall, the sentiment towards the company has been positive, suggesting that it is a good opportunity for investors. They have also seen steady revenue growth and are expected to continue this trend into the future.
Furthermore, there are numerous opportunities for expansion in the oil and gas sector and EOG Resources is well positioned to capitalize on them. All in all, the outlook for investing in EOG Resources appears promising, making it an attractive option for investors.
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