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

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

Several other research analysts have also weighed in on the company. Wells Fargo & Company lowered their price target on EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. UBS Group lowered their price target on EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley boosted their price target on EOG Resources from $132.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Wall Street Zen lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.63.

EOG Resources Trading Up 2.5%

NYSE:EOG opened at $111.25 on Monday. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $60.72 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The business’s 50-day simple moving average is $112.76 and its 200-day simple moving average is $122.89.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.82 EPS. EOG Resources’s revenue for the quarter was down 7.4% on a year-over-year basis. Sell-side analysts expect that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s payout ratio is 36.18%.

Insider Transactions at EOG Resources

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

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Essex Financial Services Inc. increased its holdings in EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock worth $753,000 after purchasing an additional 79 shares in the last quarter. Valmark Advisers Inc. increased its stake in shares of EOG Resources by 2.6% in the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after buying an additional 79 shares during the period. Deseret Mutual Benefit Administrators increased its stake in shares of EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after buying an additional 80 shares during the period. 1ST Source Bank increased its stake in shares of EOG Resources by 1.5% in the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock valued at $656,000 after buying an additional 80 shares during the period. Finally, Penobscot Investment Management Company Inc. increased its stake in shares of EOG Resources by 2.0% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company’s stock valued at $498,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds 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.