EOG Resources, Inc. (NYSE:EOG) Receives $156.33 Consensus Target Price from Brokerages

EOG Resources, Inc. (NYSE:EOG) has been given an average recommendation of “Hold” by the twenty-nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $156.3333.

Several analysts recently commented on the company. DA Davidson lifted their price objective on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Truist Financial raised their target price on EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Morgan Stanley set a $157.00 price target on EOG Resources and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein lowered their price objective on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 20th.

Insider Activity

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EOG Resources

Several institutional investors and hedge funds have recently bought and sold shares of EOG. SJS Investment Consulting Inc. raised its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after buying an additional 124 shares during the period. Financial Life Planners bought a new position in shares of EOG Resources during the 1st quarter valued at approximately $30,000. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the 4th quarter worth approximately $25,000. Wedbush Fund Advisers LLC purchased a new stake in EOG Resources in the 2nd quarter worth approximately $31,000. Finally, Prosperity Bancshares Inc bought a new stake in EOG Resources during the 4th quarter worth approximately $26,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Up 1.2%

EOG opened at $145.05 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average price of $140.45 and a 200-day moving average price of $136.58. EOG Resources has a twelve month low of $101.59 and a twelve month high of $153.67. The stock has a market capitalization of $76.08 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.53 and a beta of 0.25.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same quarter last year, the company posted $2.32 earnings per share. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts forecast that EOG Resources will post 16.87 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is currently 31.75%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.