EOG Resources (NYSE:EOG) Given New $148.00 Price Target at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its target price raised by Wells Fargo & Company from $146.00 to $148.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy exploration company’s stock.

Several other analysts have also issued reports on the stock. Raymond James upped their target price on shares of EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 2nd. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. KeyCorp decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Susquehanna cut their target price on EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America decreased their price target on EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and an average price target of $140.10.

EOG Resources Price Performance

Shares of NYSE EOG opened at $123.20 on Monday. The stock has a market cap of $67.24 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 3.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The firm’s 50-day simple moving average is $112.36 and its 200 day simple moving average is $121.68.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.31%. EOG Resources’s dividend payout ratio is 36.18%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in EOG. Valmark Advisers Inc. grew its holdings in EOG Resources by 2.6% during the 4th 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 in the last quarter. Deseret Mutual Benefit Administrators boosted its position 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 acquiring an additional 80 shares during the period. 1ST Source Bank grew its stake in EOG Resources by 1.5% during the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock valued at $656,000 after acquiring an additional 80 shares in the last quarter. Penobscot Investment Management Company Inc. increased its holdings in EOG Resources by 2.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company’s stock worth $498,000 after acquiring an additional 80 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in EOG Resources by 1.4% in the 4th quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company’s stock worth $709,000 after purchasing an additional 81 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.