EOG Resources (NYSE:EOG) Price Target Raised to $155.00

EOG Resources (NYSE:EOG) had its price objective hoisted by Morgan Stanley from $128.00 to $155.00 in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy exploration company’s stock.

A number of other brokerages also recently issued reports on EOG. Zacks Research raised shares of EOG Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Royal Bank Of Canada set a $138.00 price target on EOG Resources and gave the company an “outperform” rating in a research report on Tuesday, January 13th. UBS Group lifted their target price on EOG Resources from $141.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Stephens boosted their target price on shares of EOG Resources from $138.00 to $139.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Finally, BMO Capital Markets increased their price objective on EOG Resources from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.52.

EOG Resources Trading Up 0.0%

Shares of EOG Resources stock opened at $149.63 on Friday. The stock has a 50 day moving average price of $123.33 and a two-hundred day moving average price of $113.82. EOG Resources has a 52 week low of $101.59 and a 52 week high of $150.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.63. The stock has a market capitalization of $80.27 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 3.48 and a beta of 0.44.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.74 EPS. As a group, equities analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.7%. EOG Resources’s dividend payout ratio is presently 44.79%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $130.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief operating officer owned 88,045 shares of the company’s stock, valued at approximately $11,445,850. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,532 shares of company stock worth $1,877,405 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors grew its stake in EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock worth $6,156,495,000 after buying an additional 782,426 shares in the last quarter. Vanguard Group Inc. raised its position in shares of EOG Resources by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock valued at $5,651,172,000 after buying an additional 446,341 shares in the last quarter. State Street Corp lifted its holdings in shares of EOG Resources by 0.3% during the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock worth $3,209,365,000 after acquiring an additional 100,080 shares during the last quarter. Capital Research Global Investors grew its position in EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock worth $2,794,784,000 after acquiring an additional 122,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after acquiring an additional 371,548 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.