EOG Resources (NYSE:EOG) Price Target Raised to $144.00 at UBS Group

EOG Resources (NYSE:EOG) had its price target lifted by UBS Group from $142.00 to $144.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy exploration company’s stock.

Several other research analysts have also recently issued reports on EOG. Barclays upped their target price on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Stephens began coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an “equal weight” rating and a $137.00 target price for the company. Jefferies Financial Group restated a “buy” rating and issued a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Bank of America lowered their target price 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. Finally, Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.61.

EOG Resources Trading Up 0.8%

Shares of NYSE:EOG opened at $118.2950 on Wednesday. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The company’s 50 day moving average is $120.31 and its two-hundred day moving average is $119.25. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market cap of $64.59 billion, a PE ratio of 11.50, a P/E/G ratio of 8.96 and a beta of 0.80.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the firm posted $3.16 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is currently 37.90%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of EOG Resources

Several hedge funds have recently made changes to their positions in the company. North Dallas Bank & Trust Co. acquired a new stake in shares of EOG Resources in the 2nd quarter worth $854,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of EOG Resources in the 2nd quarter worth $209,000. Advisory Services Network LLC lifted its stake in shares of EOG Resources by 20.3% in the 2nd quarter. Advisory Services Network LLC now owns 45,237 shares of the energy exploration company’s stock worth $5,429,000 after acquiring an additional 7,627 shares during the period. State of Wyoming lifted its stake in shares of EOG Resources by 22.9% in the 2nd quarter. State of Wyoming now owns 3,149 shares of the energy exploration company’s stock worth $377,000 after acquiring an additional 586 shares during the period. Finally, Pitcairn Co. lifted its stake in shares of EOG Resources by 53.9% in the 2nd quarter. Pitcairn Co. now owns 18,207 shares of the energy exploration company’s stock worth $2,178,000 after acquiring an additional 6,374 shares during the period. Institutional investors and hedge funds 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.