Raymond James Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price target lifted by Raymond James from $148.00 to $158.00 in a research report report published on Monday,Benzinga reports. The firm currently has a strong-buy rating on the energy exploration company’s stock.

Other research analysts have also issued research reports about the company. Mizuho cut their price target on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Piper Sandler dropped their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley raised their target price on EOG Resources from $132.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday. KeyCorp dropped their target price on EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company dropped their target price on EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.63.

EOG Resources Stock Up 2.5%

Shares of EOG Resources stock opened at $111.25 on Monday. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock’s 50-day moving average is $112.76 and its 200 day moving average is $122.89. The firm has a market cap of $60.72 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 3.58 and a beta of 0.78.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Equities research analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.67%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s payout ratio is 36.18%.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Essex Financial Services Inc. lifted its stake in shares of EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after acquiring an additional 79 shares during the last quarter. Valmark Advisers Inc. increased its holdings in EOG Resources by 2.6% during the 4th quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after purchasing an additional 79 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in EOG Resources by 8.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares during the period. 1ST Source Bank increased its holdings in EOG Resources by 1.5% during the 4th quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock valued at $656,000 after purchasing an additional 80 shares during the period. Finally, Penobscot Investment Management Company Inc. increased its holdings in EOG Resources by 2.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company’s stock valued at $498,000 after purchasing an additional 80 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

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.