EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Raymond James Analyst Says

EOG Resources (NYSE:EOG - Free Report) had its price objective upped by Raymond James from $148.00 to $158.00 in a report published on Monday,Benzinga reports. They currently have a strong-buy rating on the energy exploration company's stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley increased their price objective on shares of EOG Resources from $132.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. lowered their price target on shares of EOG Resources from $149.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of EOG Resources from $150.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup dropped their target price on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.58.

EOG Resources Trading Up 1.3%

NYSE:EOG traded up $1.49 during trading hours on Monday, hitting $112.83. The stock had a trading volume of 3,279,197 shares, compared to its average volume of 3,283,855. EOG Resources has a one year low of $102.52 and a one year high of $138.18. 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 company has a market cap of $61.58 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 3.58 and a beta of 0.78. The business's 50 day moving average is $112.76 and its 200-day moving average is $122.89.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm's revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. Sell-side analysts anticipate that EOG Resources will post 11.47 EPS 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. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.62%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is currently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction dated Tuesday, April 1st. The shares were 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 owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in EOG. Modern Wealth Management LLC bought a new position in EOG Resources during the first quarter valued at about $229,000. Strs Ohio bought a new position in EOG Resources during the first quarter valued at about $17,408,000. Ellsworth Advisors LLC grew its position in EOG Resources by 1.2% during the first quarter. Ellsworth Advisors LLC now owns 13,829 shares of the energy exploration company's stock valued at $1,773,000 after buying an additional 164 shares during the period. Indiana Trust & Investment Management Co grew its position in EOG Resources by 56.2% during the first quarter. Indiana Trust & Investment Management Co now owns 417 shares of the energy exploration company's stock valued at $53,000 after buying an additional 150 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in EOG Resources by 7.9% during the first quarter. Geneos Wealth Management Inc. now owns 33,020 shares of the energy exploration company's stock valued at $4,234,000 after buying an additional 2,428 shares during the period. Hedge funds and other institutional investors 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.