Morgan Stanley Raises EOG Resources (NYSE:EOG) Price Target to $133.00

EOG Resources (NYSE:EOG) had its price objective lifted by Morgan Stanley from $132.00 to $133.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. Bank of America cut shares of EOG Resources from a buy rating to a neutral rating and lowered their price objective for the company from $147.00 to $140.00 in a research report on Friday, January 5th. TD Securities lowered their price objective on shares of EOG Resources from $135.00 to $130.00 and set a hold rating for the company in a research report on Friday, February 23rd. Barclays assumed coverage on shares of EOG Resources in a research report on Wednesday, April 10th. They issued an equal weight rating and a $144.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the company a neutral rating in a research report on Thursday, March 28th. Finally, Piper Sandler lowered their price target on shares of EOG Resources from $153.00 to $141.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of Hold and a consensus price target of $140.90.

EOG Resources Trading Down 0.4 %

Shares of EOG Resources stock opened at $132.40 on Monday. The stock has a market capitalization of $76.16 billion, a P/E ratio of 10.18 and a beta of 1.40. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $122.63 and a 200 day simple moving average of $121.92. EOG Resources has a 12-month low of $106.32 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.30 EPS. Research analysts expect that EOG Resources will post 11.95 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s payout ratio is currently 27.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EOG. Fortis Capital Advisors LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $28,000. Lumature Wealth Partners LLC acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $28,000. McIlrath & Eck LLC raised its holdings in shares of EOG Resources by 77.6% in the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Peoples Bank KS acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $31,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of EOG Resources by 530.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 212 shares during the last quarter. Institutional investors 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.