EOG Resources (NYSE:EOG) Price Target Cut to $125.00 by Analysts at Citigroup

EOG Resources (NYSE:EOG) had its price target reduced by Citigroup from $134.00 to $125.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a neutral rating on the energy exploration company’s stock.

Other analysts have also issued reports about the stock. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Williams Trading set a $154.00 price target on shares of EOG Resources in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Piper Sandler reduced their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial raised their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $145.43.

EOG Resources Trading Down 0.3 %

Shares of NYSE EOG opened at $123.56 on Monday. The stock has a market cap of $68.44 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources has a 1 year low of $115.78 and a 1 year high of $139.67. The firm has a 50-day moving average of $129.49 and a 200 day moving average of $127.56.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, sell-side analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

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 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is currently 34.73%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently modified their holdings of the stock. DRW Securities LLC lifted its holdings in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC increased its position in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the last quarter. World Investment Advisors LLC bought a new stake in EOG Resources in the third quarter worth $730,000. Mountain Lake Investment Management LLC bought a new stake in EOG Resources in the fourth quarter worth $735,000. Finally, Oak Ridge Investments LLC increased its position in EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the last quarter. Hedge funds and other institutional investors 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.