EOG Resources (NYSE: EOG)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday. They currently have a $133.00 price target on the stock.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on EOG Resources following better-than-expected fourth quarter 2012 results that were driven by surging crude production in the Eagle Ford and Bakken. EOG’s large portfolio of high-return projects and strong technical competence are its key long-term drivers. Its guidance of 28% oil production growth for 2013 is the third successive year of significant double-digit increase in volumes. It is again supported with strong natural gas liquids growth of 23%. Although projected natural gas declines of around 15% in 2013 will impact overall production, the boost in higher margin products are expected to drive underlying cash flow growth. Although we view EOG as a favorable pick, the risk-reward pay-off for the company is still uncertain in the near future due to its natural gas weighted production, as well as cost overruns. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim reiterated a “neutral” rating on shares of EOG Resources in a research note to investors on Thursday. They now have a $127.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of EOG Resources in a research note to investors on Thursday. Finally, analysts at Brean Murray reiterated a “buy” rating on shares of EOG Resources in a research note to investors on Tuesday, February 19th. They now have a $146.00 price target on the stock.
Fourteen investment analysts have rated the stock with a buy rating, eight have given an overweight rating, nine have given a hold rating, and one has issued a sell rating to the company. The company currently has an average rating of “overweight” and a consensus target price of $145.02.
Shares of EOG Resources traded up 0.15% during mid-day trading on Thursday, hitting $127.11. EOG Resources has a one year low of $82.48 and a one year high of $138.20. The stock’s 50-day moving average is currently $127.3. The company has a market cap of $34.542 billion and a P/E ratio of 60.15.
EOG Resources last posted its quarterly earnings results on Thursday, February 14th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.37 by $0.24. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that EOG Resources will post $5.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a dividend of $0.19 per share. This represents a $0.75 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from EOG Resources’s previous quarterly dividend of $0.17.
EOG Resources, Inc.(EOG), together with its subsidiaries, explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China, the Argentine Republic (Argentina) and other international areas.
To view Zacks’ full report, visit www.zacks.com
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