EOG Resources (NYSE:EOG) Given New $155.00 Price Target at Barclays

EOG Resources (NYSE:EOG) had its price objective hoisted by Barclays from $147.00 to $155.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the energy exploration company’s stock.

Several other brokerages have also issued reports on EOG. Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Zacks Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Citigroup reaffirmed a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Finally, Morgan Stanley increased their target price on EOG Resources from $157.00 to $163.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $161.80.

EOG Resources Stock Up 2.0%

Shares of NYSE EOG traded up $2.90 during trading on Friday, hitting $147.79. 4,564,319 shares of the company traded hands, compared to its average volume of 2,619,296. The firm has a market capitalization of $77.52 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 0.56 and a beta of 0.27. The business’s fifty day moving average is $149.32 and its 200 day moving average is $137.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $165.93.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.45 by $0.42. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same period last year, the business posted $2.71 EPS. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. Equities research analysts predict that EOG Resources will post 17.70 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is 31.75%.

Insider Buying and Selling at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the transaction, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. This represents a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 52,317 shares of company stock worth $7,823,480. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in EOG Resources during the 2nd quarter valued at $5,905,587,000. Bank of New York Mellon Corp purchased a new stake in shares of EOG Resources in the second quarter valued at about $654,899,000. Bank of America Corp DE purchased a new stake in shares of EOG Resources in the second quarter valued at about $551,321,000. Deutsche Bank AG purchased a new stake in shares of EOG Resources in the second quarter valued at about $251,102,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of EOG Resources by 357.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company’s stock valued at $271,641,000 after purchasing an additional 1,541,140 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Key Headlines Impacting EOG Resources

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Q3 results beat expectations: EOG reported earnings of $4.87 per share, versus the $4.45 consensus, and revenue of $8.55 billion, above estimates of $7.26 billion and up 46.2% year over year. Earnings per share rose from $2.71 a year earlier. Reuters article
• Positive Sentiment: Production and pricing supported performance: The company’s record production and stronger commodity prices helped drive profit growth and robust cash flow, reinforcing the quarter’s positive results. Zacks article
• Positive Sentiment: Dividend raised: EOG increased its quarterly dividend from $1.02 to $1.10 per share, about 7.8%, equivalent to $4.40 annually and a roughly 3% yield. The increase signals confidence in cash generation and adds to shareholder returns. EOG press release
• Neutral Sentiment: Barclays lifted its price target from $147 to $155, but maintained an “equal weight” rating, suggesting limited conviction that EOG will outperform despite the higher target. Barclays rating information

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations.

The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.

Founded in 1985 as Enron Oil & Gas, the company became independent in 1999 and adopted the name EOG Resources.