Analysts Set EOG Resources, Inc. (NYSE:EOG) Target Price at $140.62

EOG Resources, Inc. (NYSE:EOG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $140.62.

Several equities analysts recently commented on the stock. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. UBS Group restated a "buy" rating and issued a $140.00 price objective (up previously from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Finally, Susquehanna raised their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday.

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $0.68 on Friday, reaching $118.38. The stock had a trading volume of 1,785,285 shares, compared to its average volume of 3,000,766. The stock has a market cap of $64.61 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 9.15 and a beta of 0.76. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The business's 50-day moving average price is $118.08 and its two-hundred day moving average price is $121.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 EPS. On average, sell-side analysts forecast that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is 36.18%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of EOG. Penobscot Investment Management Company Inc. grew its holdings in EOG Resources by 2.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock worth $498,000 after acquiring an additional 80 shares during the last quarter. StrongBox Wealth LLC raised its holdings in shares of EOG Resources by 1.9% in the second quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock valued at $576,000 after purchasing an additional 88 shares during the last quarter. ORG Partners LLC raised its holdings in shares of EOG Resources by 45.1% in the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. Ameriflex Group Inc. increased its holdings in EOG Resources by 31.6% during the second quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company's stock worth $46,000 after buying an additional 91 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of EOG Resources by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock worth $211,000 after purchasing an additional 92 shares in the last quarter. 89.91% of the stock is owned by 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.