EOG Resources, Inc. (EOG) Price Target Cut to $94.00 by Analysts at Piper Jaffray Companies

EOG Resources, Inc. (NYSE:EOG) had its target price lowered by Piper Jaffray Companies from $109.00 to $94.00 in a report released on Monday. The firm currently has an overweight rating on the energy exploration company’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and issued a $111.00 target price on shares of EOG Resources in a research note on Friday, July 14th. BMO Capital Markets reiterated a buy rating and set a $95.00 price objective on shares of EOG Resources in a research note on Friday, August 4th. Scotiabank set a $100.00 price objective on EOG Resources and gave the stock a hold rating in a research note on Saturday, July 1st. ValuEngine upgraded EOG Resources from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group set a $108.00 price objective on EOG Resources and gave the stock a hold rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $107.54.

EOG Resources (NYSE EOG) opened at 93.89 on Monday. The firm’s market cap is $54.22 billion. EOG Resources has a 12-month low of $81.99 and a 12-month high of $109.37. The company has a 50-day moving average price of $87.81 and a 200-day moving average price of $91.61.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.51 billion. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The company’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. On average, analysts predict that EOG Resources will post $0.60 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.1675 per share. This represents a $0.67 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, October 16th. EOG Resources’s dividend payout ratio (DPR) is currently -131.37%.

In other news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $88.22, for a total transaction of $352,880.00. Following the sale, the executive vice president now directly owns 70,987 shares of the company’s stock, valued at approximately $6,262,473.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its position in shares of EOG Resources by 4.1% during the 1st quarter. IHT Wealth Management LLC now owns 1,039 shares of the energy exploration company’s stock worth $101,000 after buying an additional 41 shares during the last quarter. Winfield Associates Inc. lifted its position in shares of EOG Resources by 1.7% during the 2nd quarter. Winfield Associates Inc. now owns 1,151 shares of the energy exploration company’s stock worth $103,000 after buying an additional 19 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of EOG Resources by 60.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,069 shares of the energy exploration company’s stock worth $104,000 after buying an additional 401 shares during the last quarter. Advantage Investment Management LLC lifted its position in shares of EOG Resources by 16.6% during the 1st quarter. Advantage Investment Management LLC now owns 1,080 shares of the energy exploration company’s stock worth $105,000 after buying an additional 154 shares during the last quarter. Finally, Exane Derivatives lifted its position in shares of EOG Resources by 19.8% during the 2nd quarter. Exane Derivatives now owns 1,160 shares of the energy exploration company’s stock worth $105,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

About EOG Resources

EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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