EOG Resources (NYSE:EOG) Price Target Lowered to $140.00 at Scotiabank

EOG Resources (NYSE:EOG) had its target price lowered by Scotiabank from $150.00 to $140.00 in a report released on Thursday, Benzinga reports. The firm currently has a sector perform rating on the energy exploration company’s stock.

A number of other analysts have also recently weighed in on EOG. UBS Group reduced their target price on shares of EOG Resources from $167.00 to $154.00 and set a buy rating for the company in a report on Wednesday, September 18th. Wolfe Research assumed coverage on shares of EOG Resources in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Sanford C. Bernstein cut their target price on shares of EOG Resources from $139.00 to $125.00 and set a market perform rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of EOG Resources from a buy rating to a hold rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $147.00 target price on shares of EOG Resources in a report on Wednesday, July 10th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EOG Resources has an average rating of Hold and an average price target of $141.65.

EOG Resources Stock Performance

EOG traded up $0.68 on Thursday, hitting $132.87. 202,684 shares of the company’s stock were exchanged, compared to its average volume of 3,191,046. The firm has a market cap of $75.55 billion, a PE ratio of 10.21, a P/E/G ratio of 3.38 and a beta of 1.28. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a fifty day moving average of $125.70 and a two-hundred day moving average of $127.10. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. EOG Resources’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts anticipate that EOG Resources will post 11.83 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is 28.11%.

Insider Buying and Selling

In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Capital World Investors raised its position in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after acquiring an additional 1,361,538 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in EOG Resources by 26.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after acquiring an additional 1,029,727 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in EOG Resources during the second quarter worth $106,990,000. Capital International Investors raised its position in EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after acquiring an additional 766,056 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the period. 89.91% of the stock is owned by institutional investors.

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.