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

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

Several other research firms have also commented on EOG. KeyCorp reduced 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. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $150.00 to $130.00 in a report on Friday, April 11th. Williams Trading set a $154.00 target price on EOG Resources in a research note on Wednesday, March 5th. Finally, Mizuho reduced their target price on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $139.95.

EOG Resources Trading Down 0.7%

Shares of NYSE EOG opened at $123.79 on Monday. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18. The business has a fifty day moving average price of $112.77 and a 200 day moving average price of $121.71. The stock has a market capitalization of $67.56 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 10.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the company posted $2.82 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis. Equities research analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.30%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is currently 36.18%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in EOG Resources by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 38,882 shares of the energy exploration company’s stock worth $4,766,000 after acquiring an additional 651 shares during the period. Valeo Financial Advisors LLC boosted its position in EOG Resources by 6.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 4,494 shares of the energy exploration company’s stock worth $551,000 after purchasing an additional 263 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company’s stock worth $30,449,000 after purchasing an additional 89,521 shares during the period. Congress Asset Management Co. increased its holdings in shares of EOG Resources by 0.7% during the 4th quarter. Congress Asset Management Co. now owns 189,833 shares of the energy exploration company’s stock valued at $23,270,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of EOG Resources by 12.9% in the 4th quarter. Principal Securities Inc. now owns 16,260 shares of the energy exploration company’s stock valued at $1,993,000 after purchasing an additional 1,860 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.