EOG Resources (NYSE:EOG) Price Target Cut to $135.00 by Analysts at Piper Sandler

EOG Resources (NYSE:EOG) had its price objective trimmed by Piper Sandler from $141.00 to $135.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the energy exploration company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. UBS Group decreased their price target on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America reissued a “neutral” rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

EOG Resources Price Performance

Shares of EOG opened at $122.16 on Thursday. EOG Resources has a 12-month low of $115.78 and a 12-month high of $139.67. The business has a 50-day simple moving average of $129.40 and a two-hundred day simple moving average of $127.73. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $68.71 billion, a PE ratio of 9.84, a PEG ratio of 3.58 and a beta of 1.27.

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 analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.19%. EOG Resources’s payout ratio is currently 34.73%.

EOG Resources announced that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Audent Global Asset Management LLC raised its stake in shares of EOG Resources by 427.3% in the fourth quarter. Audent Global Asset Management LLC now owns 12,639 shares of the energy exploration company’s stock worth $1,549,000 after purchasing an additional 10,242 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $26,062,000. Heck Capital Advisors LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $78,000. Ameriflex Group Inc. purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $36,000. Finally, American Trust increased its position in shares of EOG Resources by 7.9% during the fourth quarter. American Trust now owns 29,952 shares of the energy exploration company’s stock valued at $3,672,000 after acquiring an additional 2,183 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other 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.