EOG Resources (NYSE:EOG) had its price objective lifted by Morgan Stanley from $122.00 to $123.00 in a report published on Wednesday morning, Marketbeat Ratings reports. Morgan Stanley currently has a hold rating on the energy exploration company’s stock.
A number of other research firms have also commented on EOG. Royal Bank of Canada set a $142.00 price objective on EOG Resources and gave the company a hold rating in a research note on Thursday, September 20th. ValuEngine raised EOG Resources from a hold rating to a buy rating in a research note on Wednesday, September 19th. Piper Jaffray Companies reaffirmed a buy rating and set a $145.00 price objective on shares of EOG Resources in a research note on Thursday, August 30th. Barclays initiated coverage on EOG Resources in a research note on Wednesday, August 29th. They set an overweight rating and a $144.00 price objective on the stock. Finally, TD Securities increased their price objective on EOG Resources from $155.00 to $160.00 and gave the company a buy rating in a research note on Friday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. EOG Resources presently has an average rating of Buy and an average price target of $136.43.
Shares of EOG stock traded up $0.55 during mid-day trading on Wednesday, reaching $125.86. The stock had a trading volume of 25,250 shares, compared to its average volume of 2,296,173. EOG Resources has a 12-month low of $94.87 and a 12-month high of $131.60. The stock has a market cap of $72.77 billion, a P/E ratio of 112.85, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. EOG Resources had a return on equity of 12.38% and a net margin of 27.81%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. sell-side analysts anticipate that EOG Resources will post 5.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, October 16th. EOG Resources’s dividend payout ratio (DPR) is presently 66.07%.
In other EOG Resources news, CEO William R. Thomas sold 57,065 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $122.36, for a total value of $6,982,473.40. Following the sale, the chief executive officer now directly owns 755,519 shares of the company’s stock, valued at approximately $92,445,304.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles R. Crisp sold 1,792 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $116.80, for a total value of $209,305.60. Following the completion of the sale, the director now directly owns 49,741 shares in the company, valued at $5,809,748.80. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of EOG. Transamerica Financial Advisors Inc. purchased a new position in shares of EOG Resources in the 2nd quarter worth about $158,000. Citizens Financial Group Inc RI raised its holdings in shares of EOG Resources by 41.8% in the 1st quarter. Citizens Financial Group Inc RI now owns 1,546 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 456 shares during the period. Kaizen Advisory LLC raised its holdings in shares of EOG Resources by 133.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,301 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 744 shares during the period. Private Capital Group LLC raised its holdings in shares of EOG Resources by 152.7% in the 1st quarter. Private Capital Group LLC now owns 1,668 shares of the energy exploration company’s stock worth $176,000 after purchasing an additional 1,008 shares during the period. Finally, Alpha Windward LLC purchased a new position in shares of EOG Resources in the 2nd quarter worth about $193,000. 86.11% of the stock is currently owned by hedge funds and other institutional investors.
About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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