Morgan Stanley Lowers EOG Resources (NYSE:EOG) Price Target to $136.00

EOG Resources (NYSE:EOG) had its price target lowered by Morgan Stanley from $142.00 to $136.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the energy exploration company’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group reduced their target price on EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Piper Sandler decreased their target price on EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Truist Financial increased their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Citigroup decreased their price target on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Trading Down 1.8 %

EOG opened at $126.84 on Thursday. The stock has a market capitalization of $70.26 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 3.58 and a beta of 1.25. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources has a twelve month low of $115.78 and a twelve month high of $139.67. The company has a 50-day simple moving average of $128.43 and a 200 day simple moving average of $127.61.

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

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is currently 34.73%.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction on 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EOG. Financial Life Planners purchased a new position in EOG Resources during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd grew its position 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 valued at $25,000 after purchasing an additional 121 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of EOG Resources in the fourth quarter worth $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources in the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. bought a new stake in EOG Resources during the fourth quarter valued at $27,000. Institutional investors own 89.91% of the company’s stock.

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.