Barclays Cuts EOG Resources (NYSE:EOG) Price Target to $144.00

EOG Resources (NYSE:EOG) had its price objective lowered by Barclays from $146.00 to $144.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Piper Sandler dropped 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, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.33.

EOG Resources Price Performance

Shares of EOG opened at $124.32 on Tuesday. The company has a market cap of $68.86 billion, a P/E ratio of 10.01, a PEG ratio of 3.58 and a beta of 1.25. EOG Resources has a fifty-two week low of $115.78 and a fifty-two week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $129.24 and its 200 day moving average price is $127.47.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.55 by $0.19. The business 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%. On average, research analysts forecast that EOG Resources will post 11.47 earnings per share 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 given a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.14%. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 111 Capital acquired a new stake in shares of EOG Resources during the fourth quarter worth $680,000. PKO Investment Management Joint Stock Co purchased a new position in EOG Resources during the 4th quarter worth $2,121,000. Audent Global Asset Management LLC lifted its stake in shares of EOG Resources by 427.3% in the 4th quarter. Audent Global Asset Management LLC now owns 12,639 shares of the energy exploration company’s stock worth $1,549,000 after acquiring an additional 10,242 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $26,062,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of EOG Resources during the fourth quarter worth about $78,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.