EOG Resources (NYSE:EOG) Given New $142.00 Price Target at Morgan Stanley

EOG Resources (NYSE:EOG) had its target price cut by Morgan Stanley from $143.00 to $142.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the energy exploration company’s stock.

EOG has been the subject of a number of other reports. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Mizuho decreased their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and an average target price of $145.80.

EOG Resources Stock Performance

EOG Resources stock opened at $120.28 on Monday. EOG Resources has a fifty-two week low of $115.40 and a fifty-two week high of $139.67. The firm’s 50 day simple moving average is $129.31 and its 200-day simple moving average is $127.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $67.65 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, equities research analysts predict that EOG Resources will post 11.47 EPS for the current year.

EOG Resources declared that its board has approved a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

EOG Resources Announces Dividend

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 dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Life Planners bought a new stake in EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd lifted its stake in shares of 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 buying an additional 121 shares during the period. Mainstream Capital Management LLC acquired a new stake in EOG Resources during the fourth quarter worth about $25,000. Decker Retirement Planning Inc. bought a new position in EOG Resources during the fourth quarter valued at about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources during the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.