JPMorgan Chase & Co. Cuts EOG Resources (NYSE:EOG) Price Target to $132.00

EOG Resources (NYSE:EOG) had its price target lowered by JPMorgan Chase & Co. from $149.00 to $132.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the energy exploration company’s stock.

A number of other research firms also recently issued reports on EOG. Truist Financial raised their price target 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. Morgan Stanley cut their target price on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Mizuho lowered their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Raymond James raised their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $145.86.

EOG Resources Price Performance

Shares of EOG stock opened at $121.01 on Thursday. The firm has a fifty day moving average of $129.60 and a two-hundred day moving average of $127.66. The firm has a market cap of $67.03 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.58 and a beta of 1.25. EOG Resources has a 1-year low of $115.78 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. As a group, research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal 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 paid a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.22%. EOG Resources’s dividend payout ratio is presently 34.73%.

Insider Buying and Selling

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 transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Several institutional investors have recently modified their holdings of EOG. Insight Inv LLC raised its position in EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after acquiring an additional 75 shares in the last quarter. Essex Financial Services Inc. raised its holdings in shares of EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock worth $753,000 after purchasing an additional 79 shares in the last quarter. Valmark Advisers Inc. lifted its stake in EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after purchasing an additional 79 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in EOG Resources by 8.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock worth $121,000 after buying an additional 80 shares in the last quarter. Finally, 1ST Source Bank grew its position in EOG Resources by 1.5% in the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock worth $656,000 after buying an additional 80 shares during the last quarter. 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.