EOG Resources (NYSE:EOG) Given New $156.00 Price Target at Morgan Stanley

EOG Resources (NYSE:EOG) had its price objective lowered by Morgan Stanley from $160.00 to $156.00 in a research note issued to investors on Friday morning,MarketScreener reports.

A number of other equities analysts have also commented on EOG. DA Davidson boosted their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Scotiabank raised their target price on EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on EOG Resources from $135.00 to $139.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Piper Sandler lifted their target price on EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Finally, Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.86.

EOG Resources Trading Down 0.7%

EOG opened at $132.64 on Friday. The firm has a market capitalization of $70.65 billion, a P/E ratio of 13.06 and a beta of 0.25. The firm’s 50 day moving average is $135.81 and its 200-day moving average is $125.55. EOG Resources has a 52-week low of $101.59 and a 52-week high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 earnings per share. Analysts expect that EOG Resources will post 16.64 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s payout ratio is currently 40.16%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EOG. Acumen Wealth Advisors LLC acquired a new position in EOG Resources in the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. raised its position in shares of EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $26,000. Nemes Rush Group LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $30,000. Finally, Financial Life Planners acquired a new position in EOG Resources during the 1st quarter valued at approximately $30,000. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.