Zacks Reiterates “Neutral” Rating for EOG Resources (EOG)
EOG Resources (NYSE:EOG)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, StockRatingsNetwork reports. They currently have a $176.00 target price on the stock. Zacks‘ price target points to a potential upside of 4.77% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on EOG Resources following better-than-expected second quarter 2013 results, which were driven by surging crude production in the Eagle Ford and Bakken. EOG’s large portfolio of high-return projects and strong technical competence are its key long-term drivers. Its guidance of 35% (up from 28% earlier) oil production growth for 2013 is indicative of the third successive year of significant double-digit volume growth. It is again supported by strong natural gas liquids growth of 17%. Although projected natural gas declines of around 11.5% in 2013 will impact overall production, the boost in higher margin products are expected to drive underlying cash flow growth. Although we view EOG as a favorable pick, the risk-reward pay-off for the company is still uncertain in the near future due to its natural gas weighted production, as well as cost overruns.”
A number of other firms have also recently commented on EOG. Analysts at Morgan Stanley upgraded shares of EOG Resources (NYSE:EOG) from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $200.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Credit Suisse reiterated a “hold” rating on shares of EOG Resources (NYSE:EOG) in a research note to investors on Monday, August 26th. They now have a $175.00 price target on the stock. Finally, analysts at Barclays Capital reiterated a “buy” rating on shares of EOG Resources (NYSE:EOG) in a research note to investors on Monday, August 26th. They now have a $192.00 price target on the stock.
Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.40.
EOG Resources (NYSE:EOG) traded down 0.86% on Friday, hitting $166.55. 524,932 shares of the company’s stock traded hands. EOG Resources has a one year low of $107.76 and a one year high of $168.77. The stock’s 50-day moving average is $156.0 and its 200-day moving average is $136.. The company has a market cap of $45.371 billion and a price-to-earnings ratio of 45.44.
EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, August 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.46. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $1.11 earnings per share. EOG Resources’s revenue was up 32.0% compared to the same quarter last year. Analysts expect that EOG Resources will post $7.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a dividend of $0.19 per share. This represents a $0.75 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Tuesday, October 15th.
In other EOG Resources news, COO Gary L. Thomas sold 12,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $163.85, for a total transaction of $1,966,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
EOG Resources, Inc(NYSE:EOG) explores , develops, produces and markets crude oil and natural gas primarily in producing basins in the United States of America , Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom , The People’s Republic of China (China), the Argentine Republic (Argentina) and, from time to time, select other international areas.
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