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Morgan Stanley Maintains Their Hold Rating on EOG Resources (EOG)

In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on EOG Resources (EOGResearch Report), with a price target of $151.00. The company’s shares closed last Tuesday at $102.30.

According to TipRanks.com, McDermott is a 5-star analyst with an average return of 8.4% and a 56.0% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.

Currently, the analyst consensus on EOG Resources is a Strong Buy with an average price target of $154.84, representing a 56.0% upside. In a report issued on July 6, RBC Capital also downgraded the stock to Hold with a $150.00 price target.

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Based on EOG Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.76 billion and net profit of $390 million. In comparison, last year the company earned revenue of $4.04 billion and had a net profit of $677 million.

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Incorporated in 1985 and based in Texas, EOG Resources, Inc. is engaged in the exploration, development, production and marketing of crude oil and natural gas and natural gas liquids. It operates in the United States, Trinidad and Tobago, China and Canada.

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