EOG Resources (NYSE:EOG) Price Target Raised to $187.00

EOG Resources (NYSE:EOG) had its price target increased by Susquehanna from $170.00 to $187.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have a positive rating on the energy exploration company’s stock.

Several other equities research analysts have also recently commented on EOG. Morgan Stanley lifted their target price on EOG Resources from $157.00 to $163.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Scotiabank started coverage on EOG Resources in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 target price for the company. Truist Financial upped their price target on EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Roth Capital reiterated a “neutral” rating and issued a $138.00 price target on shares of EOG Resources in a report on Wednesday, August 5th. Finally, Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $161.24.

EOG Resources Price Performance

EOG opened at $157.79 on Tuesday. EOG Resources has a one year low of $101.59 and a one year high of $160.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The company’s 50 day simple moving average is $147.21 and its 200-day simple moving average is $140.65. The stock has a market capitalization of $82.76 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.56 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same quarter in the previous year, the company posted $2.32 EPS. EOG Resources’s revenue was up 57.4% on a year-over-year basis. Sell-side analysts anticipate that EOG Resources will post 17.48 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

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

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 9,039 shares of EOG Resources stock in a transaction that occurred 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 transaction, the chief operating officer owned 90,790 shares of the company’s stock, valued at $12,765,981.90. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Donaldson sold 7,336 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,317 shares of company stock valued at $7,823,480 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of EOG. Jupiter Topco LLC bought a new stake in shares of EOG Resources in the 2nd quarter valued at $138,987,000. Punch & Associates Investment Management Inc. acquired a new stake in EOG Resources during the 2nd quarter worth $11,746,000. Parvin Asset Management LLC acquired a new stake in EOG Resources during the 2nd quarter worth $1,743,000. Transamerica Financial Advisors LLC bought a new position in EOG Resources during the second quarter worth about $1,051,000. Finally, Rakuten Investment Management Inc. bought a new position in EOG Resources during the second quarter worth about $11,517,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.