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

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

Several other research firms also recently weighed in on EOG. Royal Bank of Canada restated a sector perform rating and set a $145.00 price objective on shares of EOG Resources in a report on Tuesday, April 9th. Barclays started coverage on shares of EOG Resources in a report on Wednesday, April 10th. They set an equal weight rating and a $144.00 price objective on the stock. Citigroup upped their price objective on shares of EOG Resources from $120.00 to $124.00 and gave the stock a neutral rating in a report on Monday, March 18th. Stifel Nicolaus lowered their price objective 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. Finally, Scotiabank downgraded shares of EOG Resources from a sector outperform rating to a sector perform rating and upped their price objective for the stock from $135.00 to $155.00 in a report on Thursday, April 11th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of Hold and a consensus price target of $140.90.

EOG Resources Stock Down 0.5 %

Shares of NYSE EOG opened at $131.76 on Monday. The firm has a market cap of $75.79 billion, a PE ratio of 10.13 and a beta of 1.40. EOG Resources has a 12-month low of $106.32 and a 12-month high of $139.67. The company’s fifty day simple moving average is $123.00 and its 200 day simple moving average is $121.99. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

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

EOG Resources Dividend Announcement

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

Hedge Funds Weigh In On EOG Resources

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