Stifel Nicolaus Cuts EOG Resources (NYSE:EOG) Price Target to $150.00

EOG Resources (NYSE:EOG) had its price target lowered by Stifel Nicolaus from $153.00 to $150.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the energy exploration company’s stock.

A number of other analysts also recently weighed in on EOG. Bank of America downgraded EOG Resources from a buy rating to a neutral rating and decreased their price objective for the company from $147.00 to $140.00 in a report on Friday, January 5th. Raymond James decreased their price objective on EOG Resources from $148.00 to $145.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. StockNews.com upgraded EOG Resources from a hold rating to a buy rating in a report on Monday, April 22nd. JPMorgan Chase & Co. increased their price objective on EOG Resources from $134.00 to $141.00 and gave the company a neutral rating in a report on Thursday, March 28th. Finally, Morgan Stanley increased their price objective on EOG Resources from $132.00 to $133.00 and gave the company an equal weight rating in a report on Monday, April 15th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $142.19.

EOG Resources Stock Up 0.3 %

Shares of EOG opened at $135.71 on Tuesday. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The stock has a market capitalization of $78.06 billion, a price-to-earnings ratio of 10.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The stock has a fifty day moving average of $125.70 and a 200-day moving average of $122.51.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the company posted $3.30 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that EOG Resources will post 12.29 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 annualized dividend and a yield of 2.68%. EOG Resources’s payout ratio is 27.98%.

Hedge Funds Weigh In On EOG Resources

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in EOG Resources by 59.2% in the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock valued at $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EOG Resources by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,937,070 shares of the energy exploration company’s stock worth $1,639,903,000 after buying an additional 145,691 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of EOG Resources by 8.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock worth $1,462,966,000 after buying an additional 892,951 shares in the last quarter. Morgan Stanley lifted its position in shares of EOG Resources by 1.5% during the 3rd quarter. Morgan Stanley now owns 7,789,774 shares of the energy exploration company’s stock worth $987,432,000 after buying an additional 116,860 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of EOG Resources by 3.1% during the 3rd quarter. Northern Trust Corp now owns 6,260,706 shares of the energy exploration company’s stock worth $793,607,000 after purchasing an additional 185,882 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.