EOG Resources (NYSE:EOG) Price Target Raised to $135.00

EOG Resources (NYSE:EOG) had its target price lifted by Morgan Stanley from $132.00 to $135.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the energy exploration company’s stock.

A number of other equities analysts have also weighed in on the stock. Williams Trading set a $154.00 price objective on shares of EOG Resources in a report on Wednesday, March 5th. Raymond James restated a “strong-buy” rating on shares of EOG Resources in a report on Tuesday, May 20th. Bank of America decreased their price objective on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Piper Sandler decreased their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Eleven 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.58.

EOG Resources Stock Performance

Shares of EOG opened at $110.89 on Monday. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a market cap of $60.52 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.58 and a beta of 0.78. The business’s 50 day moving average price is $112.16 and its 200-day moving average price is $122.74. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the business earned $2.82 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.68%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s dividend payout ratio is 36.18%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Life Planners purchased a new stake in EOG Resources in the 4th quarter worth $25,000. Y.D. More Investments Ltd increased its stake in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in EOG Resources in the 1st quarter worth $26,000. Mainstream Capital Management LLC purchased a new stake in EOG Resources in the 4th quarter worth $25,000. Finally, Saudi Central Bank purchased a new stake in EOG Resources in the 1st quarter worth $28,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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.