BMO Capital Markets Cuts EOG Resources (NYSE:EOG) Price Target to $120.00

EOG Resources (NYSE:EOG) had its price target trimmed by BMO Capital Markets from $126.00 to $120.00 in a report issued on Monday,MarketScreener reports. The firm currently has an outperform rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. Jefferies Financial Group set a $140.00 target price on EOG Resources in a research note on Wednesday. Citigroup reissued a “neutral” rating and issued a $115.00 price target (down from $125.00) on shares of EOG Resources in a report on Wednesday, December 17th. Morgan Stanley boosted their price objective on shares of EOG Resources from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Johnson Rice decreased their target price on shares of EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of EOG Resources in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $137.25.

EOG Resources Stock Performance

EOG Resources stock traded down $2.67 during mid-day trading on Monday, reaching $108.07. The company’s stock had a trading volume of 4,637,524 shares, compared to its average volume of 3,909,484. The firm’s fifty day moving average price is $106.81 and its two-hundred day moving average price is $112.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62. EOG Resources has a 12-month low of $101.59 and a 12-month high of $138.18. The company has a market capitalization of $58.64 billion, a P/E ratio of 10.76, a PEG ratio of 8.53 and a beta of 0.49.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.48 billion. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.89 earnings per share. Sell-side analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, January 16th. EOG Resources’s payout ratio is currently 40.64%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the transaction, the chief operating officer owned 54,979 shares of the company’s stock, valued at $5,810,180.72. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently added to or reduced their stakes in EOG. Fiduciary Alliance LLC grew its position in EOG Resources by 1.7% during the second quarter. Fiduciary Alliance LLC now owns 6,334 shares of the energy exploration company’s stock valued at $758,000 after acquiring an additional 108 shares during the last quarter. Balefire LLC lifted its holdings in shares of EOG Resources by 33.4% in the 2nd quarter. Balefire LLC now owns 4,758 shares of the energy exploration company’s stock worth $569,000 after acquiring an additional 1,192 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of EOG Resources by 44.5% in the 2nd quarter. Gateway Investment Advisers LLC now owns 10,661 shares of the energy exploration company’s stock valued at $1,275,000 after purchasing an additional 3,284 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of EOG Resources by 38.2% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,446 shares of the energy exploration company’s stock valued at $532,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Pines Wealth Management LLC purchased a new position in EOG Resources in the 2nd quarter worth $278,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.