Morgan Stanley set a $108.00 price objective on EOG Resources (NYSE:EOG) in a report issued on Wednesday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the energy exploration company’s stock.
Several other equities analysts have also issued reports on EOG. MKM Partners reaffirmed a neutral rating and issued a $109.00 price target on shares of EOG Resources in a report on Tuesday, April 16th. Oppenheimer assumed coverage on shares of EOG Resources in a report on Wednesday, March 27th. They set an outperform rating and a $108.00 price objective on the stock. Tudor Pickering raised shares of EOG Resources from a hold rating to a buy rating in a report on Thursday, April 4th. ValuEngine raised shares of EOG Resources from a sell rating to a hold rating in a report on Thursday, January 10th. Finally, Barclays reissued a buy rating and set a $138.00 price objective on shares of EOG Resources in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $121.40.
NYSE EOG traded up $0.76 on Wednesday, hitting $95.00. The stock had a trading volume of 2,425,656 shares, compared to its average volume of 4,068,932. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 0.26. EOG Resources has a 52-week low of $82.04 and a 52-week high of $133.53. The firm has a market capitalization of $55.13 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.16 and a beta of 1.24.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.16. EOG Resources had a net margin of 19.35% and a return on equity of 17.10%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that EOG Resources will post 5.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.22. This represents a $1.15 dividend on an annualized basis and a yield of 1.21%. EOG Resources’s payout ratio is currently 15.88%.
In related news, Director Frank G. Wisner sold 1,296 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total transaction of $113,114.88. Following the completion of the transaction, the director now directly owns 120,052 shares in the company, valued at $10,478,138.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. Nomura Asset Management Co. Ltd. raised its position in shares of EOG Resources by 7.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 95,547 shares of the energy exploration company’s stock worth $8,333,000 after acquiring an additional 6,689 shares during the period. American International Group Inc. raised its position in shares of EOG Resources by 5.7% in the fourth quarter. American International Group Inc. now owns 244,278 shares of the energy exploration company’s stock worth $21,303,000 after acquiring an additional 13,180 shares during the period. Culbertson A N & Co. Inc. raised its position in shares of EOG Resources by 1.4% in the first quarter. Culbertson A N & Co. Inc. now owns 39,524 shares of the energy exploration company’s stock worth $3,762,000 after acquiring an additional 544 shares during the period. Jag Capital Management LLC raised its position in shares of EOG Resources by 1.0% in the first quarter. Jag Capital Management LLC now owns 21,464 shares of the energy exploration company’s stock worth $2,043,000 after acquiring an additional 223 shares during the period. Finally, PFG Advisors acquired a new position in shares of EOG Resources in the fourth quarter worth about $1,274,000. Institutional investors own 88.52% of the company’s stock.
EOG Resources Company Profile
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 People's Republic of China, and Canada.
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