EOG Resources (NYSE:EOG) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its price target decreased by Wells Fargo & Company from $140.00 to $135.00 in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the energy exploration company’s stock.

A number of other equities analysts have also recently issued reports on EOG. Wolfe Research started coverage on EOG Resources in a report on Thursday, July 18th. They issued a peer perform rating on the stock. Sanford C. Bernstein reduced their price objective on shares of EOG Resources from $139.00 to $125.00 and set a market perform rating for the company in a report on Wednesday, July 17th. Susquehanna lowered their target price on shares of EOG Resources from $159.00 to $158.00 and set a positive rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on EOG Resources from $143.00 to $135.00 and set a neutral rating for the company in a research note on Thursday, September 12th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $147.00 price objective on shares of EOG Resources in a report on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $142.15.

EOG Resources Stock Up 1.8 %

Shares of NYSE EOG opened at $133.12 on Tuesday. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market cap of $76.51 billion, a PE ratio of 10.52, a P/E/G ratio of 3.27 and a beta of 1.28. The company’s fifty day simple moving average is $125.16 and its 200 day simple moving average is $126.91.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. The company 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 firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $2.49 EPS. As a group, sell-side analysts forecast that EOG Resources will post 11.91 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company 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 dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.73%. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after purchasing an additional 146,674 shares during the last quarter. Capital Research Global Investors raised its stake in shares of EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares during the period. Capital World Investors lifted its holdings in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after acquiring an additional 260,727 shares during the last quarter. Finally, Capital International Investors boosted its stake in EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares during the last quarter. 89.91% of the stock is currently owned by 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.