Johnson Rice Cuts EOG Resources (NYSE:EOG) Price Target to $135.00

EOG Resources (NYSE:EOG) had its price objective decreased by Johnson Rice from $145.00 to $135.00 in a research report sent to investors on Friday morning,MarketScreener reports. Johnson Rice currently has a hold rating on the energy exploration company’s stock.

Several other equities analysts also recently issued reports on the stock. Argus downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. Wells Fargo & Company cut their target price on EOG Resources from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of EOG Resources in a report on Wednesday, October 8th. Evercore ISI raised their price target on EOG Resources from $141.00 to $149.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein reduced their price objective on EOG Resources from $146.00 to $144.00 and set a “market perform” rating for the company in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.86.

EOG Resources Stock Performance

Shares of EOG opened at $112.19 on Friday. The company has a market capitalization of $60.87 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 8.47 and a beta of 0.49. EOG Resources has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $108.18 and a 200 day moving average price of $115.07.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. Research analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a yield of 3.6%. EOG Resources’s dividend payout ratio is currently 40.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kiker Wealth Management LLC acquired a new position in EOG Resources during the second quarter worth about $627,000. Railway Pension Investments Ltd boosted its stake in shares of EOG Resources by 6.9% during the 2nd quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock worth $53,717,000 after acquiring an additional 28,800 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of EOG Resources by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock worth $7,386,000 after acquiring an additional 5,156 shares during the period. Canada Pension Plan Investment Board increased its stake in EOG Resources by 30.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock valued at $25,107,000 after purchasing an additional 45,295 shares in the last quarter. Finally, River Road Asset Management LLC raised its holdings in EOG Resources by 15.2% during the second quarter. River Road Asset Management LLC now owns 75,878 shares of the energy exploration company’s stock worth $9,107,000 after purchasing an additional 9,999 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.