EOG Resources (NYSE:EOG) Price Target Raised to $175.00

EOG Resources (NYSE:EOG) had its price objective hoisted by Raymond James from $167.00 to $175.00 in a report released on Thursday,Benzinga reports. The firm currently has a strong-buy rating on the energy exploration company’s stock.

Several other brokerages also recently weighed in on EOG. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday. Scotiabank dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Barclays lowered their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $143.86.

EOG Resources Stock Down 1.7 %

Shares of EOG Resources stock opened at $131.73 on Thursday. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. 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 has a 50-day moving average of $129.01 and a 200 day moving average of $127.35. The firm has a market cap of $74.09 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 3.68 and a beta of 1.29.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period last year, the business earned $3.44 earnings per share. As a group, sell-side analysts anticipate that EOG Resources will post 11.45 earnings per share for the current fiscal year.

EOG Resources announced that its Board of Directors has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.96%. EOG Resources’s payout ratio is 31.40%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently made changes to their positions in the business. Insight Inv LLC lifted its holdings in EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its holdings in shares of EOG Resources by 0.9% in the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares in the last quarter. Everpar Advisors LLC boosted its position in shares of EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in EOG Resources by 3.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock valued at $358,000 after acquiring an additional 84 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in EOG Resources by 10.0% in the 4th quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock valued at $114,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.