EOG Resources (NYSE:EOG) Price Target Raised to $163.00

EOG Resources (NYSE:EOG) had its price target lifted by Morgan Stanley from $157.00 to $163.00 in a research report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the energy exploration company’s stock.

Several other analysts have also commented on EOG. Barclays set a $147.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a report on Monday, August 17th. Seaport Research Partners initiated coverage on EOG Resources in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Truist Financial increased their target price on EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a report on Friday, October 2nd. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Scotiabank assumed coverage on EOG Resources in a research report on Wednesday. They issued a “sector perform” rating and a $144.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eighteen have assigned a Hold rating to the company. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $160.56.

EOG Resources Trading Up 3.5%

NYSE:EOG opened at $157.97 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources has a 12 month low of $101.59 and a 12 month high of $158.37. The company has a market cap of $82.86 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.36. The company has a 50 day simple moving average of $145.98 and a two-hundred day simple moving average of $140.29.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.32 EPS. Research analysts forecast that EOG Resources will post 17.48 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s payout ratio is currently 31.75%.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 over the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in EOG Resources during the 2nd quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP boosted its position in shares of EOG Resources by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after purchasing an additional 54,091 shares during the period. Bank of New York Mellon Corp bought a new position in shares of EOG Resources in the second quarter worth approximately $654,899,000. Bank of America Corp DE purchased a new stake in shares of EOG Resources in the second quarter worth $551,321,000. Finally, First Trust Advisors LP increased its stake in shares of EOG Resources by 15.7% in the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after purchasing an additional 468,090 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.