Wells Fargo & Company Cuts EOG Resources (NYSE:EOG) Price Target to $146.00

EOG Resources (NYSE:EOG) had its target price cut by Wells Fargo & Company from $150.00 to $146.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the energy exploration company’s stock.

Several other brokerages have also recently weighed in on EOG. Williams Trading set a $154.00 target price on shares of EOG Resources in a report on Wednesday, March 5th. Raymond James increased their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler lowered their price objective on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley lowered their price objective on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $145.86.

EOG Resources Stock Up 2.4 %

Shares of EOG opened at $124.04 on Thursday. The firm has a market cap of $68.71 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. EOG Resources has a 12-month low of $115.78 and a 12-month high of $139.67. The company’s 50-day moving average price is $129.55 and its 200 day moving average price is $127.61. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in EOG Resources in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd grew its holdings in shares of EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares during the period. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources during the 4th quarter worth about $27,000. Finally, Keystone Financial Group Inc. purchased a new stake in shares of EOG Resources during the 4th quarter worth about $27,000. Hedge funds and other institutional investors 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.