EOG Resources (NYSE:EOG) Price Target Lowered to $146.00 at Barclays

EOG Resources (NYSE:EOG) had its target price lowered by Barclays from $148.00 to $146.00 in a report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the energy exploration company’s stock.

A number of other analysts have also weighed in on EOG. Raymond James increased their price objective 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. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Finally, Citigroup raised their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and an average target price of $145.30.

EOG Resources Stock Performance

EOG Resources stock opened at $126.99 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources has a 1-year low of $113.83 and a 1-year high of $139.67. The firm has a market capitalization of $71.43 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The company’s 50-day moving average is $129.30 and its 200 day moving average is $127.88.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Research analysts forecast that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently bought and sold shares of the company. Financial Life Planners acquired a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd boosted its stake in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the fourth quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in EOG Resources in the fourth quarter valued at approximately $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.