EOG Resources (NYSE:EOG) Price Target Raised to $133.00

EOG Resources (NYSE:EOG - Free Report) had its target price upped by Morgan Stanley from $132.00 to $133.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the energy exploration company's stock.

A number of other research firms also recently weighed in on EOG. Raymond James decreased their price objective on EOG Resources from $148.00 to $145.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. TD Securities decreased their price target on EOG Resources from $135.00 to $130.00 and set a hold rating for the company in a report on Friday, February 23rd. Mizuho increased their price target on EOG Resources from $138.00 to $140.00 and gave the stock a buy rating in a report on Monday. Stifel Nicolaus decreased their price target on EOG Resources from $163.00 to $153.00 and set a buy rating for the company in a report on Friday, March 22nd. Finally, Bank of America downgraded EOG Resources from a buy rating to a neutral rating and decreased their price target for the stock from $147.00 to $140.00 in a report on Friday, January 5th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $140.90.

EOG Resources Price Performance

NYSE EOG traded down $1.98 on Monday, hitting $132.39. 2,976,036 shares of the company's stock were exchanged, compared to its average volume of 3,464,123. The stock has a 50-day moving average of $121.81 and a 200-day moving average of $121.80. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of 10.18 and a beta of 1.40.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the company posted $3.30 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. Analysts expect that EOG Resources will post 11.95 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.75%. EOG Resources's dividend payout ratio is currently 27.98%.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of EOG. Capital World Investors increased its stake in shares of EOG Resources by 59.2% during the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company's stock worth $3,074,660,000 after purchasing an additional 9,455,621 shares during the last quarter. Tejara Capital Ltd purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $106,000. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 196.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company's stock worth $1,175,599,000 after purchasing an additional 6,529,464 shares during the last quarter. Morgan Stanley increased its stake in shares of EOG Resources by 87.8% during the 4th quarter. Morgan Stanley now owns 7,787,281 shares of the energy exploration company's stock worth $1,008,609,000 after purchasing an additional 3,641,504 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of EOG Resources by 126.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,111,339 shares of the energy exploration company's stock worth $662,021,000 after purchasing an additional 2,851,839 shares during the last quarter. 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.