Bank of America reaffirmed their neutral rating on shares of EOG Resources (NYSE: EOG) in a report issued on Friday. They currently have a $140.00 target price on the stock, up from their previous target price of $135.00.
“EOG delivered another solid quarter. It also delivered a stellar resource update with material additions in both the Eagleford and Permian adding to an already impressive drilling inventory. However additions are long dated. Accordingly, the value implications are modest and with this backdrop the story has not materially changed. While this makes for consistent performance by management it is no more than is already captured in a multiple we believe discounts delivery. Modest adjustments to the drilling pace (more oil, less gas) nudges our PO to $140; but vs other stocks we continue to view EOG as priced for perfection. Neutral.,” Bank of America’s analyst wrote.
EOG Resources traded up 1.71% on Friday, hitting $131.40. EOG Resources has a 52-week low of $82.48 and a 52-week high of $138.20. The stock’s 50-day moving average is currently $127.0. The company has a market cap of $35.692 billion and a price-to-earnings ratio of 61.23.
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 0.57%. 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 has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of EOG Resources from $145.00 to $159.00 in a research note to investors on Friday. They now have an outperform rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of EOG Resources from $136.00 to $149.00 in a research note to investors on Friday. They now have an outperform rating on the stock. Finally, analysts at Wunderlich reiterated a hold rating on shares of EOG Resources in a research note to investors on Friday. They now have a $135.00 price target on the stock, up previously from $132.00.
Fourteen equities research analysts have rated the stock with a buy rating, eight have given an overweight rating, nine have issued a hold rating, and one has issued a sell rating to the company’s stock. The company presently has an average rating of overweight and a consensus price target of $143.70.
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