Analysts Set EOG Resources, Inc. (NYSE:EOG) Target Price at $139.48

EOG Resources, Inc. (NYSE:EOG - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-one research firms that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $139.48.

Several brokerages have recently weighed in on EOG. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Barclays increased their price objective on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Susquehanna dropped their target price on EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Finally, UBS Group reiterated a "buy" rating and issued a $140.00 price objective (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd.

EOG Resources Stock Up 1.3%

Shares of NYSE:EOG traded up $1.63 during trading on Monday, hitting $124.51. 1,437,144 shares of the company were exchanged, compared to its average volume of 3,398,124. The firm's 50 day moving average price is $115.33 and its 200-day moving average price is $121.24. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The stock has a market capitalization of $67.95 billion, a P/E ratio of 11.55, a PEG ratio of 9.74 and a beta of 0.76.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $1.02 dividend. This is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.28%. EOG Resources's payout ratio is presently 36.18%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in EOG Resources in the 1st quarter valued at about $26,000. Mainstream Capital Management LLC purchased a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in EOG Resources in the first quarter valued at approximately $28,000. Lee Danner & Bass Inc. acquired a new position in EOG Resources during the fourth quarter worth approximately $28,000. Finally, Heritage Wealth Advisors raised its stake in EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock worth $30,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds 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.