Wells Fargo & Company Cuts EOG Resources (NYSE:EOG) Price Target to $135.00

EOG Resources (NYSE:EOG) had its price objective lowered by Wells Fargo & Company from $140.00 to $135.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the energy exploration company’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of EOG Resources from a buy rating to a hold rating in a report on Monday, September 16th. Piper Sandler lowered their price target on shares of EOG Resources from $154.00 to $147.00 and set an overweight rating on the stock in a report on Thursday, August 15th. Susquehanna dropped their price target on shares of EOG Resources from $159.00 to $158.00 and set a positive rating on the stock in a research note on Wednesday, September 4th. KeyCorp started coverage on EOG Resources in a research report on Thursday, June 27th. They set an overweight rating and a $157.00 price objective for the company. Finally, Scotiabank dropped their target price on EOG Resources from $155.00 to $150.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Fourteen equities research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $142.15.

EOG Resources Price Performance

EOG stock opened at $130.79 on Tuesday. The firm has a 50-day moving average of $125.05 and a two-hundred day moving average of $126.85. The firm has a market capitalization of $75.17 billion, a PE ratio of 10.33, a P/E/G ratio of 3.27 and a beta of 1.28. 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 has a one year low of $108.94 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last posted 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 analysts’ expectations of $6.07 billion. During the same period in the previous year, the company posted $2.49 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that EOG Resources will post 11.91 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is currently 28.75%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at $4,434,135.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia grew its position in shares of EOG Resources by 33.7% in the 4th quarter. Bank of Nova Scotia now owns 72,229 shares of the energy exploration company’s stock valued at $8,736,000 after purchasing an additional 18,196 shares during the period. KBC Group NV lifted its position in EOG Resources by 5.0% in the 4th quarter. KBC Group NV now owns 165,785 shares of the energy exploration company’s stock valued at $20,052,000 after acquiring an additional 7,854 shares in the last quarter. CWA Asset Management Group LLC lifted its position in EOG Resources by 34.0% in the 4th quarter. CWA Asset Management Group LLC now owns 3,932 shares of the energy exploration company’s stock valued at $476,000 after acquiring an additional 998 shares in the last quarter. NEOS Investment Management LLC increased its holdings in EOG Resources by 39.4% during the 4th quarter. NEOS Investment Management LLC now owns 8,332 shares of the energy exploration company’s stock worth $1,008,000 after purchasing an additional 2,353 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of EOG Resources by 3.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 38,869 shares of the energy exploration company’s stock valued at $4,701,000 after purchasing an additional 1,280 shares during the period. Institutional investors and hedge funds 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.