EOG Resources (NYSE:EOG) Price Target Raised to $132.00

EOG Resources (NYSE:EOG - Free Report) had its target price hoisted by Morgan Stanley from $131.00 to $132.00 in a report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the energy exploration company's stock.

Several other research firms have also commented on EOG. Mizuho lowered their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Williams Trading set a $154.00 target price on EOG Resources in a report on Wednesday, March 5th. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Susquehanna dropped their price objective on shares of EOG Resources from $161.00 to $156.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler reduced their target price on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $139.79.

EOG Resources Trading Up 0.9%

NYSE:EOG traded up $1.02 on Friday, reaching $111.20. The company's stock had a trading volume of 2,475,122 shares, compared to its average volume of 3,287,803. The firm has a market cap of $60.69 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a 50 day moving average price of $114.41 and a 200 day moving average price of $123.73.

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 (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. EOG Resources's revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. On average, equities analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, July 17th. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after purchasing an additional 348,895 shares during the period. Capital World Investors increased its position in EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after acquiring an additional 1,188,552 shares during the last quarter. Geode Capital Management LLC raised its stake in EOG Resources by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock valued at $1,541,282,000 after acquiring an additional 234,067 shares during the last quarter. Finally, Northern Trust Corp lifted its position in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after acquiring an additional 358,916 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

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.