EOG Resources (NYSE:EOG) Price Target Raised to $190.00

EOG Resources (NYSE:EOG) had its price objective increased by UBS Group from $186.00 to $190.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the energy exploration company’s stock.

Other research analysts have also issued research reports about the stock. Scotiabank began coverage on shares of EOG Resources in a research note on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 price objective on the stock. Wall Street Zen raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Stifel Nicolaus initiated coverage on shares of EOG Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $158.00 target price on the stock. Roth Capital reissued a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. Finally, Freedom Capital cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $162.32.

EOG Resources Price Performance

Shares of EOG opened at $153.81 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. EOG Resources has a 1 year low of $101.59 and a 1 year high of $165.93. The stock has a market cap of $79.75 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. The stock’s 50-day moving average price is $149.66 and its two-hundred day moving average price is $138.48.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $7.26 billion. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. EOG Resources’s revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 EPS. On average, equities analysts predict that EOG Resources will post 17.82 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, January 15th. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a yield of 2.9%. EOG Resources’s payout ratio is presently 26.36%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 9,039 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer directly owned 90,790 shares in the company, valued at $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,317 shares of company stock worth $7,823,480 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Patrick M Sweeney & Associates Inc. grew its stake in shares of EOG Resources by 3.6% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,895 shares of the energy exploration company’s stock worth $261,000 after acquiring an additional 65 shares in the last quarter. Keybank National Association OH boosted its stake in EOG Resources by 0.3% in the 3rd quarter. Keybank National Association OH now owns 22,312 shares of the energy exploration company’s stock valued at $3,074,000 after purchasing an additional 69 shares during the period. Hantz Financial Services Inc. boosted its holdings in EOG Resources by 1.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,692 shares of the energy exploration company’s stock valued at $646,000 after purchasing an additional 72 shares during the period. Summitry LLC grew its holdings in shares of EOG Resources by 1.5% during the 1st quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock worth $699,000 after purchasing an additional 73 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its stake in EOG Resources by 4.8% in the third quarter. Murphy Pohlad Asset Management LLC now owns 1,661 shares of the energy exploration company’s stock valued at $229,000 after acquiring an additional 76 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.