EOG Resources (NYSE:EOG) Price Target Raised to $160.00

EOG Resources (NYSE:EOG) had its target price raised by Truist Financial from $153.00 to $160.00 in a research note published on Friday, Marketbeat Ratings reports. The brokerage currently has a hold rating on the energy exploration company’s stock.

Several other research analysts have also weighed in on the company. Barclays set a $147.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Wells Fargo & Company restated an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. lowered their price target on EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Weiss Ratings raised EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.74.

EOG Resources Stock Performance

NYSE:EOG opened at $141.44 on Friday. 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 firm has a market capitalization of $74.19 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.52 and a beta of 0.36. The company’s 50-day moving average is $144.32 and its two-hundred day moving average is $139.70. EOG Resources has a 1-year low of $101.59 and a 1-year high of $154.16.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.32 EPS. Analysts forecast that EOG Resources will post 16.9 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources’s payout ratio is presently 31.75%.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 7,336 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the sale, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. This represents a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,317 shares of company stock worth $7,823,480 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its position in shares of EOG Resources by 225.5% during the first 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 in the last quarter. Financial Life Planners acquired a new position in shares of EOG Resources in the first quarter valued at approximately $30,000. Wedbush Fund Advisers LLC acquired a new position in shares of EOG Resources in the second quarter valued at approximately $31,000. Global Assets Advisory LLC purchased a new stake in EOG Resources during the 1st quarter worth approximately $37,000. Finally, Main Street Group LTD purchased a new stake in EOG Resources during the 1st quarter worth approximately $38,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About EOG Resources

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.