Citigroup Lowers EOG Resources (NYSE:EOG) Price Target to $125.00

EOG Resources (NYSE:EOG) had its price target cut by Citigroup from $134.00 to $125.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler cut 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. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Mizuho cut their price target 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. Finally, Morgan Stanley cut their price target 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. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and an average price target of $145.43.

EOG Resources Trading Down 0.3 %

Shares of EOG opened at $123.56 on Monday. The company’s fifty day moving average is $129.49 and its 200 day moving average is $127.56. EOG Resources has a fifty-two week low of $115.78 and a fifty-two week high of $139.67. The stock has a market capitalization of $68.44 billion, a PE ratio of 9.95, a P/E/G ratio of 3.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Sell-side analysts expect that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is 34.73%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of the stock. Capital World Investors increased its holdings in shares of EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after acquiring an additional 781,282 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after acquiring an additional 234,067 shares in the last quarter. Northern Trust Corp increased its holdings in shares of EOG Resources by 2.9% during the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after acquiring an additional 159,216 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of EOG Resources by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after acquiring an additional 365,115 shares in the last quarter. Institutional investors and hedge funds 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.