Barclays Cuts EOG Resources (NYSE:EOG) Price Target to $152.00

EOG Resources (NYSE:EOGGet Rating) had its target price cut by Barclays from $153.00 to $152.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the energy exploration company’s stock.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group upgraded EOG Resources from a neutral rating to a buy rating and increased their price objective for the stock from $125.00 to $143.00 in a research note on Tuesday, October 18th. TD Securities downgraded shares of EOG Resources from a buy rating to a hold rating in a report on Thursday, December 15th. Truist Financial decreased their price objective on shares of EOG Resources from $152.00 to $146.00 in a research note on Thursday, December 15th. Johnson Rice lowered shares of EOG Resources from a buy rating to a hold rating and dropped their price objective for the stock from $177.00 to $163.00 in a report on Monday, December 5th. Finally, Morgan Stanley raised EOG Resources from an equal weight rating to an overweight rating and reduced their target price for the stock from $149.00 to $147.00 in a report on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $155.45.

EOG Resources Stock Performance

NYSE EOG opened at $134.18 on Monday. EOG Resources has a twelve month low of $92.16 and a twelve month high of $150.88. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock has a market cap of $78.82 billion, a P/E ratio of 10.54, a PEG ratio of 0.34 and a beta of 1.53. The company’s 50-day simple moving average is $131.96 and its 200 day simple moving average is $123.89.

EOG Resources (NYSE:EOGGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The energy exploration company reported $3.71 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($0.04). The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.19 billion. EOG Resources had a net margin of 29.84% and a return on equity of 35.36%. As a group, research analysts forecast that EOG Resources will post 13.84 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a $3.30 dividend on an annualized basis and a yield of 2.46%. This is a boost from EOG Resources’s previous quarterly dividend of $0.75. EOG Resources’s dividend payout ratio (DPR) is 25.92%.

Insider Activity

In related news, EVP Kenneth W. Boedeker sold 1,995 shares of EOG Resources stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $145.09, for a total transaction of $289,454.55. Following the transaction, the executive vice president now owns 20,978 shares of the company’s stock, valued at approximately $3,043,698.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other EOG Resources news, Director Michael T. Kerr acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 12th. The shares were acquired at an average price of $130.49 per share, with a total value of $2,609,800.00. Following the purchase, the director now owns 170,000 shares of the company’s stock, valued at approximately $22,183,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth W. Boedeker sold 1,995 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $145.09, for a total value of $289,454.55. Following the completion of the transaction, the executive vice president now directly owns 20,978 shares of the company’s stock, valued at $3,043,698.02. The disclosure for this sale can be found here. Insiders sold a total of 10,170 shares of company stock valued at $1,459,657 in the last ninety days. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the business. CENTRAL TRUST Co raised its holdings in EOG Resources by 0.8% during the 3rd quarter. CENTRAL TRUST Co now owns 9,118 shares of the energy exploration company’s stock worth $1,019,000 after buying an additional 74 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in EOG Resources by 6.3% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,260 shares of the energy exploration company’s stock worth $141,000 after buying an additional 75 shares during the period. Hallmark Capital Management Inc. raised its holdings in EOG Resources by 3.6% during the 3rd quarter. Hallmark Capital Management Inc. now owns 2,197 shares of the energy exploration company’s stock worth $245,000 after buying an additional 77 shares during the period. Bogart Wealth LLC raised its holdings in EOG Resources by 24.8% during the 3rd quarter. Bogart Wealth LLC now owns 397 shares of the energy exploration company’s stock worth $44,000 after buying an additional 79 shares during the period. Finally, PAX Financial Group LLC raised its holdings in EOG Resources by 3.0% during the 3rd quarter. PAX Financial Group LLC now owns 2,705 shares of the energy exploration company’s stock worth $302,000 after buying an additional 80 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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