TD Cowen Boosts EOG Resources (NYSE:EOG) Price Target to $144.00

EOG Resources (NYSE:EOG) had its price target raised by TD Cowen from $130.00 to $144.00 in a report published on Tuesday morning, Benzinga reports. TD Cowen currently has a hold rating on the energy exploration company’s stock.

Several other research analysts have also recently weighed in on EOG. Royal Bank of Canada reaffirmed a sector perform rating and set a $145.00 target price on shares of EOG Resources in a research note on Tuesday, April 9th. TD Securities reduced their price objective on shares of EOG Resources from $135.00 to $130.00 and set a hold rating for the company in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of EOG Resources from $134.00 to $141.00 and gave the stock a neutral rating in a report on Thursday, March 28th. StockNews.com raised shares of EOG Resources from a hold rating to a buy rating in a research note on Monday, April 22nd. Finally, Truist Financial decreased their price target on shares of EOG Resources from $165.00 to $163.00 and set a buy rating on the stock in a research report on Friday, April 5th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $142.27.

EOG Resources Price Performance

EOG Resources stock traded down $1.78 during trading hours on Tuesday, hitting $130.02. 5,660,186 shares of the company traded hands, compared to its average volume of 3,390,405. The firm’s 50-day simple moving average is $127.11 and its two-hundred day simple moving average is $122.60. The firm has a market cap of $74.79 billion, a P/E ratio of 9.99 and a beta of 1.38. EOG Resources has a 1-year low of $106.32 and a 1-year high of $139.67. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, May 2nd. The energy exploration company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $5.91 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $2.69 earnings per share. As a group, analysts forecast that EOG Resources will post 12.14 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.80%. EOG Resources’s dividend payout ratio is presently 27.98%.

Institutional Trading of EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of EOG Resources during the 3rd quarter valued at about $4,431,000. TIAA Trust National Association grew its position in EOG Resources by 639.3% in the fourth quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock worth $6,971,000 after acquiring an additional 49,840 shares in the last quarter. AIA Group Ltd grew its position in EOG Resources by 128.0% in the fourth quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock worth $1,234,000 after acquiring an additional 5,728 shares in the last quarter. L. Roy Papp & Associates LLP increased its stake in shares of EOG Resources by 18.3% during the 4th quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock worth $20,362,000 after purchasing an additional 26,026 shares during the last quarter. Finally, Yacktman Asset Management LP lifted its stake in shares of EOG Resources by 4.8% in the 4th quarter. Yacktman Asset Management LP now owns 1,789,433 shares of the energy exploration company’s stock valued at $216,432,000 after purchasing an additional 82,302 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.