Piper Sandler Boosts EOG Resources (NYSE:EOG) Price Target to $153.00

EOG Resources (NYSE:EOG) had its price target increased by Piper Sandler from $141.00 to $153.00 in a report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the energy exploration company’s stock.

A number of other research firms have also weighed in on EOG. JPMorgan Chase & Co. lifted their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the company a neutral rating in a research note on Thursday, March 28th. TD Securities reduced their price objective on shares of EOG Resources from $135.00 to $130.00 and set a hold rating for the company in a research note on Friday, February 23rd. Truist Financial cut their price target on shares of EOG Resources from $165.00 to $163.00 and set a buy rating for the company in a report on Friday, April 5th. Citigroup raised their price target on shares of EOG Resources from $120.00 to $124.00 and gave the company a neutral rating in a report on Monday, March 18th. Finally, Susquehanna cut their price target on shares of EOG Resources from $164.00 to $147.00 and set a positive rating for the company in a report on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources has an average rating of Hold and an average price target of $141.48.

EOG Resources Trading Up 1.1 %

Shares of EOG stock opened at $133.15 on Friday. The company has a 50 day moving average of $123.45 and a 200-day moving average of $122.05. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. EOG Resources has a 12-month low of $106.32 and a 12-month high of $139.67. The firm has a market cap of $76.59 billion, a P/E ratio of 10.23 and a beta of 1.40.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The company had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the business earned $3.30 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that EOG Resources will post 12.07 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s payout ratio is presently 27.98%.

Hedge Funds Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. purchased a new position in EOG Resources in the 3rd quarter worth $4,431,000. TIAA Trust National Association increased its position in shares of EOG Resources by 639.3% in the fourth quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock valued at $6,971,000 after acquiring an additional 49,840 shares during the period. L. Roy Papp & Associates LLP increased its position in shares of EOG Resources by 18.3% in the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock valued at $20,362,000 after acquiring an additional 26,026 shares during the period. NewEdge Wealth LLC increased its position in shares of EOG Resources by 9.3% in the fourth quarter. NewEdge Wealth LLC now owns 115,960 shares of the energy exploration company’s stock valued at $14,025,000 after acquiring an additional 9,837 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of EOG Resources by 12.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,065,042 shares of the energy exploration company’s stock valued at $370,717,000 after acquiring an additional 340,902 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.