Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $136.00

EOG Resources (NYSE:EOG) had its target price decreased by Morgan Stanley from $142.00 to $136.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy exploration company’s stock.

Several other research firms have also recently issued reports on EOG. Williams Trading set a $154.00 price objective on shares of EOG Resources in a research report on Wednesday, March 5th. Piper Sandler cut their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Truist Financial upped their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Barclays cut their target price on EOG Resources from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company reduced their target price on EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $144.67.

EOG Resources Trading Down 0.1 %

EOG opened at $126.55 on Thursday. 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 company’s 50 day simple moving average is $128.23 and its two-hundred day simple moving average is $127.71. The firm has a market capitalization of $70.10 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. EOG Resources has a 1-year low of $115.78 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Analysts expect 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 Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Life Planners acquired a new stake in shares of EOG Resources during the 4th quarter worth about $25,000. Y.D. More Investments Ltd raised its holdings in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $25,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources in the 4th quarter valued at $27,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of EOG Resources in the 4th quarter valued at $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.