EOG Resources (NYSE:EOG) Price Target Raised to $139.00

EOG Resources (NYSE:EOG) had its target price upped by Scotiabank from $123.00 to $139.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a sector perform rating on the energy exploration company’s stock.

Other analysts have also recently issued research reports about the company. Capital One Financial increased their target price on EOG Resources from $130.00 to $161.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Zacks Research upgraded EOG Resources from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Sanford C. Bernstein increased their target price on EOG Resources from $126.00 to $167.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Truist Financial assumed coverage on EOG Resources in a report on Tuesday, March 24th. They set a “hold” rating and a $146.00 target price on the stock. Finally, Williams Trading set a $177.00 target price on EOG Resources in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $153.68.

EOG Resources Stock Performance

EOG Resources stock opened at $133.09 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42. The stock has a fifty day moving average price of $133.68 and a two-hundred day moving average price of $116.86. EOG Resources has a 52-week low of $101.59 and a 52-week high of $151.87. The firm has a market capitalization of $71.30 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.67 and a beta of 0.32.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the company posted $2.74 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts anticipate that EOG Resources will post 13.45 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, April 16th. EOG Resources’s dividend payout ratio is presently 44.79%.

Insider Activity

In related news, CFO Ann D. Janssen sold 4,161 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently added to or reduced their stakes in EOG. Franklin Resources Inc. boosted its holdings in EOG Resources by 24.2% in the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after acquiring an additional 1,257,110 shares during the last quarter. First Trust Advisors LP boosted its holdings in EOG Resources by 70.5% in the fourth quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock valued at $312,711,000 after acquiring an additional 1,231,366 shares during the last quarter. Marshall Wace LLP boosted its holdings in EOG Resources by 474.7% in the fourth quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock valued at $138,430,000 after acquiring an additional 1,088,867 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in EOG Resources by 23.9% in the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after acquiring an additional 901,897 shares during the last quarter. Finally, Capital World Investors boosted its holdings in EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock valued at $6,156,495,000 after acquiring an additional 782,426 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.