EOG Resources (NYSE:EOG) Price Target Lowered to $136.00 at Morgan Stanley

EOG Resources (NYSE:EOG) had its price target cut by Morgan Stanley from $142.00 to $136.00 in a research report released on Thursday,Benzinga reports. They currently have an equal weight rating on the energy exploration company’s stock.

A number of other analysts have also recently weighed in on EOG. Citigroup decreased their price objective on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. UBS Group decreased their price target on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Raymond James boosted their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $155.00 in a report on Wednesday, February 12th. Thirteen equities 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 company. According to MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $144.67.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $126.55 on Thursday. The firm’s fifty day simple moving average is $128.23 and its 200-day simple moving average is $127.71. EOG Resources has a 12 month low of $115.78 and a 12 month high of $139.67. The stock has a market capitalization of $70.10 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. As a group, equities analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is currently 34.73%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors boosted its position in EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after purchasing an additional 781,282 shares during the period. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after purchasing an additional 234,067 shares during the last quarter. Northern Trust Corp grew its position in shares of EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after purchasing an additional 159,216 shares during the period. Finally, Alliancebernstein L.P. increased its stake in EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after purchasing an additional 365,115 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.