EOG Resources, Inc. (NYSE:EOG) Stock Has Average Price Target of $160.56

Key Points

• Analysts maintain a “Hold” consensus on EOG Resources, with 18 holds, nine buys and one strong buy among 28 ratings. The average 12-month price target is $160.56.
• EOG reported quarterly earnings of $5.07 per share, topping estimates of $4.97, while revenue reached $8.62 billion and rose 57.4% year over year.
• The company declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.6% yield.

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have been given a consensus rating of "Hold" by the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Eighteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $160.56.

EOG has been the subject of a number of research analyst reports. Freedom Capital lowered EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings raised EOG Resources from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 8th. Wells Fargo & Company reiterated an "overweight" rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Truist Financial increased their price target on EOG Resources from $153.00 to $160.00 and gave the stock a "hold" rating in a report on Friday, October 2nd. Finally, Roth Capital reissued a "neutral" rating and issued a $138.00 price objective on shares of EOG Resources in a research note on Wednesday, August 5th.

EOG Resources Trading Up 3.5%

EOG opened at $157.97 on Friday. EOG Resources has a 1-year low of $101.59 and a 1-year high of $158.37. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a market cap of $82.86 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.36. The company has a fifty day moving average price of $145.98 and a two-hundred day moving average price of $140.29.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business's quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. Analysts predict that EOG Resources will post 17.48 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is presently 31.75%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey Leitzell sold 9,039 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the transaction, the chief operating officer directly owned 90,790 shares in the company, valued at $12,765,981.90. This trade represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Yacob sold 35,942 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,317 shares of company stock valued at $7,823,480 over the last ninety days. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its position in shares of EOG Resources by 204.6% during the third quarter. IFP Advisors Inc now owns 18,875 shares of the energy exploration company's stock worth $2,600,000 after acquiring an additional 12,679 shares in the last quarter. Delta Capital Management LLC raised its holdings in shares of EOG Resources by 14.9% in the 3rd quarter. Delta Capital Management LLC now owns 12,965 shares of the energy exploration company's stock worth $1,786,000 after acquiring an additional 1,680 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of EOG Resources in the 3rd quarter worth about $366,000. Frank Rimerman Advisors LLC lifted its position in EOG Resources by 6.4% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,797 shares of the energy exploration company's stock valued at $385,000 after acquiring an additional 169 shares in the last quarter. Finally, Encompass More Asset Management bought a new position in EOG Resources in the 3rd quarter valued at about $248,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG's principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.

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