EOG Resources (NYSE:EOG) Price Target Lowered to $140.00 at Morgan Stanley

EOG Resources (NYSE:EOGGet Rating) had its price target reduced by Morgan Stanley from $147.00 to $140.00 in a research report sent to investors on Tuesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the energy exploration company’s stock.

Several other equities analysts have also recently weighed in on the company. Johnson Rice cut EOG Resources from a buy rating to a hold rating and cut their price target for the company from $177.00 to $163.00 in a report on Monday, December 5th. Barclays dropped their target price on EOG Resources from $153.00 to $152.00 and set an overweight rating for the company in a report on Monday. StockNews.com initiated coverage on EOG Resources in a report on Wednesday, October 12th. They issued a hold rating for the company. Citigroup lifted their target price on EOG Resources from $150.00 to $160.00 in a report on Tuesday, November 22nd. Finally, Mizuho cut EOG Resources from a buy rating to a neutral rating and lifted their target price for the stock from $155.00 to $160.00 in a report on Tuesday, January 10th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $155.14.

EOG Resources Stock Down 1.1 %

Shares of EOG opened at $132.76 on Tuesday. The company has a market capitalization of $77.98 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.34 and a beta of 1.53. The business’s 50 day moving average is $131.67 and its 200 day moving average is $124.08. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.16. EOG Resources has a 12-month low of $92.16 and a 12-month high of $150.88.

EOG Resources (NYSE:EOGGet Rating) last released its quarterly earnings results 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 firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.19 billion. EOG Resources had a net margin of 29.84% and a return on equity of 35.36%. Research analysts expect that EOG Resources will post 13.84 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be given a dividend of $0.825 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 13th. This represents a $3.30 annualized dividend and a yield of 2.49%. EOG Resources’s dividend payout ratio (DPR) is presently 25.92%.

Insider Transactions at EOG Resources

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

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently bought and sold shares of EOG. Cetera Investment Advisers increased its holdings in shares of EOG Resources by 16.0% during the first quarter. Cetera Investment Advisers now owns 16,031 shares of the energy exploration company’s stock worth $1,911,000 after buying an additional 2,213 shares in the last quarter. Moors & Cabot Inc. bought a new position in EOG Resources in the first quarter valued at approximately $404,000. Sequoia Financial Advisors LLC bought a new position in EOG Resources in the first quarter valued at approximately $278,000. Zions Bancorporation N.A. boosted its stake in EOG Resources by 237.7% in the first quarter. Zions Bancorporation N.A. now owns 1,155 shares of the energy exploration company’s stock valued at $138,000 after acquiring an additional 813 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in EOG Resources by 23.7% in the first quarter. Brown Brothers Harriman & Co. now owns 662 shares of the energy exploration company’s stock valued at $79,000 after acquiring an additional 127 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

About EOG Resources

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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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Analyst Recommendations for EOG Resources (NYSE:EOG)

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