EOG Resources (NYSE:EOG) Price Target Raised to $148.00

EOG Resources (NYSE:EOG) had its target price upped by Wells Fargo & Company from $146.00 to $148.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the energy exploration company’s stock.

A number of other analysts also recently issued reports on EOG. Bank of America reduced their price target on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. KeyCorp reduced their price objective on EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. UBS Group restated a “buy” rating and set a $140.00 price objective (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Finally, Citigroup cut their target price on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.95.

EOG Resources Stock Down 0.7%

NYSE EOG opened at $123.79 on Monday. EOG Resources has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The stock has a market cap of $67.56 billion, a PE ratio of 11.48, a P/E/G ratio of 10.18 and a beta of 0.74. The stock’s 50 day moving average is $112.77 and its 200 day moving average is $121.71.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was down 7.4% 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s payout ratio is currently 36.18%.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of EOG Resources by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 38,882 shares of the energy exploration company’s stock valued at $4,766,000 after buying an additional 651 shares during the period. Valeo Financial Advisors LLC increased its position in EOG Resources by 6.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,494 shares of the energy exploration company’s stock valued at $551,000 after purchasing an additional 263 shares during the period. Bank Pictet & Cie Europe AG increased its position in EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company’s stock valued at $30,449,000 after purchasing an additional 89,521 shares during the period. Congress Asset Management Co. raised its holdings in shares of EOG Resources by 0.7% in the 4th quarter. Congress Asset Management Co. now owns 189,833 shares of the energy exploration company’s stock valued at $23,270,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of EOG Resources by 12.9% in the 4th quarter. Principal Securities Inc. now owns 16,260 shares of the energy exploration company’s stock worth $1,993,000 after purchasing an additional 1,860 shares during the period. 89.91% 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, 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.