Raymond James Financial Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG - Free Report) had its target price boosted by Raymond James Financial from $158.00 to $161.00 in a report published on Tuesday,Benzinga reports. They currently have a strong-buy rating on the energy exploration company's stock.

Other research analysts have also issued research reports about the company. Mizuho lowered their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. UBS Group reissued a "buy" rating and set a $140.00 price objective (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. KeyCorp lowered their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.62.

EOG Resources Stock Up 0.2%

EOG stock traded up $0.30 during mid-day trading on Tuesday, hitting $119.18. The stock had a trading volume of 2,452,102 shares, compared to its average volume of 3,013,426. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a fifty day moving average of $118.02 and a 200 day moving average of $121.10. The stock has a market capitalization of $65.05 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 9.13 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 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 EPS. On average, equities analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC increased its stake in shares of EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after buying an additional 106,677 shares during the period. ARGA Investment Management LP increased its stake in shares of EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after buying an additional 2,616 shares during the period. CWA Asset Management Group LLC increased its stake in shares of EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after buying an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of EOG Resources by 37.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after buying an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc increased its stake in shares of EOG Resources by 4.7% in the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after buying an additional 8,127 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Company Profile

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.