EOG Resources (NYSE:EOG) Price Target Raised to $175.00 at Raymond James

EOG Resources (NYSE:EOG) had its target price increased by Raymond James from $167.00 to $175.00 in a research note released on Thursday morning,Benzinga reports. They currently have a strong-buy rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America reaffirmed a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Evercore ISI cut their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Mizuho decreased their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $143.86.

EOG Resources Trading Down 0.1 %

NYSE:EOG opened at $133.91 on Thursday. The company has a market cap of $75.32 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 3.76 and a beta of 1.29. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $129.09 and a two-hundred day simple moving average of $127.27. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter in the prior year, the business earned $3.44 earnings per share. Research analysts forecast that EOG Resources will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.91%. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources announced that its board has initiated a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP bought a new position in EOG Resources during the 3rd quarter valued at about $31,000. Finally, HM Payson & Co. raised its position in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 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.