EOG Resources Inc. (EOG) Given New $110.00 Price Target at Wunderlich
EOG Resources Inc. (NYSE:EOG) had its price objective hoisted by research analysts at Wunderlich from $104.00 to $110.00 in a research report issued on Friday. The firm presently has a “buy” rating on the energy exploration company’s stock. Wunderlich’s price target would suggest a potential upside of 13.24% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Barclays PLC boosted their price objective on shares of EOG Resources from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Bank of America Corp. set a $100.00 price objective on shares of EOG Resources and gave the company a “hold” rating in a research note on Friday, August 5th. Credit Suisse Group AG reissued a “hold” rating and issued a $90.00 price objective on shares of EOG Resources in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of EOG Resources from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, July 25th. Finally, Deutsche Bank AG raised shares of EOG Resources from a “hold” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $96.00 in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $92.22.
EOG Resources (NYSE:EOG) opened at 97.14 on Friday. EOG Resources has a 1-year low of $57.15 and a 1-year high of $98.32. The stock has a 50 day moving average of $92.02 and a 200 day moving average of $83.78. The stock’s market capitalization is $53.49 billion.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, August 5th. The energy exploration company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.10. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The firm earned $1.78 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. EOG Resources’s revenue for the quarter was down 28.1% on a year-over-year basis. On average, analysts expect that EOG Resources will post ($1.67) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a dividend of $0.1675 per share. This represents a $0.67 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, October 13th. EOG Resources’s dividend payout ratio (DPR) is presently -7.14%.
In related news, VP Ann D. Janssen sold 1,064 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $96.73, for a total transaction of $102,920.72. Following the completion of the sale, the vice president now owns 56,473 shares of the company’s stock, valued at approximately $5,462,633.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David W. Trice sold 4,600 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $97.08, for a total transaction of $446,568.00. Following the sale, the executive vice president now directly owns 62,050 shares of the company’s stock, valued at approximately $6,023,814. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in EOG Resources by 13.4% in the first quarter. Franklin Resources Inc. now owns 1,715,430 shares of the energy exploration company’s stock worth $124,506,000 after buying an additional 202,096 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in EOG Resources during the first quarter worth about $2,734,000. TimesSquare Capital Management LLC acquired a new stake in EOG Resources during the first quarter worth about $3,196,000. Bessemer Group Inc. increased its stake in EOG Resources by 766.7% in the first quarter. Bessemer Group Inc. now owns 18,001 shares of the energy exploration company’s stock worth $1,307,000 after buying an additional 15,924 shares during the period. Finally, Advisor Partners LLC increased its stake in EOG Resources by 19.3% in the first quarter. Advisor Partners LLC now owns 8,206 shares of the energy exploration company’s stock worth $596,000 after buying an additional 1,327 shares during the period. 89.44% of the stock is owned by hedge funds and other institutional investors.
About EOG Resources
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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