EOG Resources (NYSE:EOG) Stock Price Target Raised at Barclays

EOG Resources (NYSE:EOG) had its price objective hoisted by Barclays from $155.00 to $168.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the energy exploration company’s stock.

EOG has been the subject of a number of other reports. Scotiabank started coverage on EOG Resources in a report on Wednesday, October 14th. They issued a “sector perform” rating and a $144.00 price target for the company. Zacks Research raised shares of EOG Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Capital One Financial cut shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price objective for the company. in a report on Wednesday, August 26th. Finally, Morgan Stanley lifted their price objective on shares of EOG Resources from $157.00 to $163.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.84.

EOG Resources Stock Performance

Shares of EOG Resources stock traded up $2.63 during trading on Friday, hitting $158.25. 3,240,241 shares of the company’s stock were exchanged, compared to its average volume of 3,273,360. The stock has a market capitalization of $82.05 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.53 and a beta of 0.27. The business has a 50-day simple moving average of $150.04 and a 200-day simple moving average of $138.97. EOG Resources has a 52-week low of $101.59 and a 52-week high of $165.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 1.90.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.42. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $7.26 billion. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period last year, the firm earned $2.71 EPS. On average, research analysts forecast that EOG Resources will post 18.22 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, January 15th. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is presently 28.42%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of EOG Resources during the second quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP grew its holdings in shares of EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after buying an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of EOG Resources by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock worth $712,583,000 after buying an additional 259,015 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of EOG Resources during the second quarter worth $551,321,000. Finally, First Trust Advisors LP raised its position in shares of EOG Resources by 15.7% in the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after buying an additional 468,090 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.