EOG Resources (NYSE:EOG) Price Target Raised to $127.00

EOG Resources (NYSE:EOG) had its target price raised by Piper Sandler from $123.00 to $127.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

EOG has been the subject of a number of other research reports. Scotiabank set a $123.00 target price on shares of EOG Resources and gave the stock a “sector perform” rating in a report on Friday, January 16th. The Goldman Sachs Group reduced their price target on EOG Resources from $125.00 to $123.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Raymond James Financial lifted their price objective on EOG Resources from $153.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 13th. Stephens upped their price objective on EOG Resources from $138.00 to $139.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Wolfe Research increased their target price on EOG Resources from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.31.

EOG Resources Stock Up 0.5%

Shares of NYSE:EOG opened at $131.74 on Thursday. EOG Resources has a one year low of $101.59 and a one year high of $134.00. The company has a 50 day moving average of $113.78 and a 200-day moving average of $112.12. 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 market cap of $70.68 billion, a price-to-earnings ratio of 14.46 and a beta of 0.44.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. EOG Resources’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, April 16th. EOG Resources’s dividend payout ratio (DPR) is currently 44.79%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer owned 61,481 shares in the company, valued at $7,685,125. This represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 7,774 shares of company stock valued at $945,895. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in EOG Resources by 64.1% in the second quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company’s stock valued at $445,921,000 after acquiring an additional 1,456,928 shares during the period. Franklin Resources Inc. raised its position in shares of EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the period. Prudential Financial Inc. lifted its holdings in shares of EOG Resources by 282.3% during the 2nd quarter. Prudential Financial Inc. now owns 1,546,058 shares of the energy exploration company’s stock valued at $184,924,000 after purchasing an additional 1,141,680 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of EOG Resources by 474.7% during the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock valued at $138,430,000 after purchasing an additional 1,088,867 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of EOG Resources by 23.9% in the 4th 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 purchasing an additional 901,897 shares during the period. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

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.