UBS Group Cuts EOG Resources (NYSE:EOG) Price Target to $160.00

EOG Resources (NYSE:EOG) had its price target cut by UBS Group from $165.00 to $160.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the energy exploration company’s stock.

Several other brokerages also recently commented on EOG. Citigroup raised their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Morgan Stanley lowered their price objective on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Bank of America reiterated a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

EOG Resources Stock Up 0.3 %

Shares of EOG opened at $122.16 on Tuesday. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources has a 52 week low of $115.78 and a 52 week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The business’s fifty day moving average price is $129.40 and its two-hundred day moving average price is $127.73.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. On average, analysts predict that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources announced that its board has approved a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.19%. EOG Resources’s payout ratio is 34.73%.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

Several large investors have recently made changes to their positions in the company. DRW Securities LLC grew its position in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC raised its holdings in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares during the last quarter. World Investment Advisors LLC acquired a new position in EOG Resources during the 3rd quarter valued at about $730,000. Mountain Lake Investment Management LLC bought a new stake in EOG Resources during the 4th quarter worth approximately $735,000. Finally, Oak Ridge Investments LLC raised its stake in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the last quarter. 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.