EOG Resources (NYSE:EOG) Price Target Raised to $133.00 at Morgan Stanley

EOG Resources (NYSE:EOG) had its price objective lifted by Morgan Stanley from $132.00 to $133.00 in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. Barclays began coverage on shares of EOG Resources in a report on Wednesday, April 10th. They issued an equal weight rating and a $144.00 target price on the stock. Stifel Nicolaus cut their target price on shares of EOG Resources from $163.00 to $153.00 and set a buy rating on the stock in a report on Friday, March 22nd. Scotiabank cut shares of EOG Resources from a sector outperform rating to a sector perform rating and raised their target price for the stock from $135.00 to $155.00 in a report on Thursday, April 11th. Bank of America cut EOG Resources from a buy rating to a neutral rating and cut their price target for the company from $147.00 to $140.00 in a report on Friday, January 5th. Finally, Truist Financial cut their price target on EOG Resources from $165.00 to $163.00 and set a buy rating on the stock in a report on Friday, April 5th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $140.90.

EOG Resources Stock Performance

Shares of EOG stock opened at $131.76 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The company’s 50-day simple moving average is $123.00 and its 200-day simple moving average is $121.99. The stock has a market capitalization of $75.79 billion, a price-to-earnings ratio of 10.13 and a beta of 1.40.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the business posted $3.30 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts anticipate that EOG Resources will post 12.07 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a $0.91 dividend. The ex-dividend date is Monday, April 15th. This represents a $3.64 annualized dividend and a yield of 2.76%. EOG Resources’s dividend payout ratio (DPR) is 27.98%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. acquired a new position in EOG Resources in the third quarter worth approximately $4,431,000. Paradigm Financial Partners LLC grew its position in EOG Resources by 0.9% in the third quarter. Paradigm Financial Partners LLC now owns 30,004 shares of the energy exploration company’s stock worth $3,728,000 after buying an additional 271 shares during the last quarter. TIAA Trust National Association grew its position in EOG Resources by 639.3% in the fourth quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock worth $6,971,000 after buying an additional 49,840 shares during the last quarter. L. Roy Papp & Associates LLP grew its position in EOG Resources by 18.3% in the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock worth $20,362,000 after buying an additional 26,026 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in EOG Resources by 9.3% in the fourth quarter. NewEdge Wealth LLC now owns 115,960 shares of the energy exploration company’s stock worth $14,025,000 after buying an additional 9,837 shares during the last quarter. Institutional investors and hedge funds 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.