Wells Fargo & Company Cuts EOG Resources (NYSE:EOG) Price Target to $146.00

EOG Resources (NYSE:EOG) had its price objective cut by Wells Fargo & Company from $150.00 to $146.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the energy exploration company’s stock.

Several other research firms have also recently weighed in on EOG. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Barclays reduced their target price on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group dropped their price target on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $145.86.

EOG Resources Stock Up 2.4 %

Shares of EOG Resources stock opened at $124.04 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market capitalization of $68.71 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. EOG Resources has a 52-week low of $115.78 and a 52-week high of $139.67. The company has a 50-day simple moving average of $129.55 and a two-hundred day simple moving average of $127.61.

EOG Resources (NYSE:EOG) last issued its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Capital World Investors boosted its holdings in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 4.5% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in EOG Resources by 1.9% in the 4th 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 in the last quarter. Northern Trust Corp raised its position in EOG Resources by 2.9% during the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock worth $701,036,000 after buying an additional 159,216 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in EOG Resources by 6.9% during the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after buying an additional 365,115 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.