Morgan Stanley Cuts EOG Resources (NYSE:EOG) Price Target to $132.00

EOG Resources (NYSE:EOG) had its price objective cut by Morgan Stanley from $134.00 to $132.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the energy exploration company’s stock.

Other analysts have also issued research reports about the company. Scotiabank decreased their price objective on EOG Resources from $155.00 to $150.00 and set a sector perform rating on the stock in a research note on Friday, July 12th. Citigroup lifted their price target on shares of EOG Resources from $124.00 to $130.00 and gave the stock a neutral rating in a report on Friday, May 24th. JPMorgan Chase & Co. cut their price objective on shares of EOG Resources from $143.00 to $135.00 and set a neutral rating for the company in a research report on Thursday, September 12th. Truist Financial lowered their target price on shares of EOG Resources from $136.00 to $130.00 and set a hold rating for the company in a research note on Monday, July 22nd. Finally, Wolfe Research began coverage on EOG Resources in a research note on Thursday, July 18th. They set a peer perform rating on the stock. Fourteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $142.89.

EOG Resources Stock Performance

Shares of EOG opened at $124.38 on Monday. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The stock has a market cap of $71.48 billion, a P/E ratio of 9.82, a PEG ratio of 2.95 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $125.76 and a two-hundred day moving average of $126.42.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 EPS. As a group, research analysts predict that EOG Resources will post 12.2 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.93%. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock valued at $2,751,612 over the last quarter. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the company. Aveo Capital Partners LLC increased its holdings in shares of EOG Resources by 4.8% during the fourth quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock valued at $265,000 after purchasing an additional 101 shares during the period. Kingsview Wealth Management LLC lifted its stake in EOG Resources by 118.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,430 shares of the energy exploration company’s stock valued at $778,000 after buying an additional 3,487 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of EOG Resources by 32.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 78,495 shares of the energy exploration company’s stock worth $9,494,000 after buying an additional 19,154 shares during the period. Brown Advisory Inc. raised its holdings in shares of EOG Resources by 1.0% during the fourth quarter. Brown Advisory Inc. now owns 38,095 shares of the energy exploration company’s stock valued at $4,608,000 after acquiring an additional 394 shares during the period. Finally, ING Groep NV boosted its stake in EOG Resources by 52,792.9% in the 4th quarter. ING Groep NV now owns 51,835 shares of the energy exploration company’s stock worth $6,269,000 after purchasing an additional 51,737 shares during the period. 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.