UBS Group Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target cut by UBS Group from $165.00 to $160.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the energy exploration company’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James increased their target price on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays cut their target price on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Truist Financial upped their price target on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

EOG Resources Stock Up 0.3 %

Shares of NYSE:EOG opened at $122.16 on Tuesday. The firm has a fifty day moving average price of $129.40 and a two-hundred day moving average price of $127.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $68.71 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources has a one year low of $115.78 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last announced 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. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Analysts anticipate that EOG Resources will post 11.47 EPS 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. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.19%. EOG Resources’s payout ratio is 34.73%.

EOG Resources announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

A number of large investors have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in EOG Resources during the fourth quarter valued at $25,000. Y.D. More Investments Ltd increased its position in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares during the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources in the fourth quarter valued at $25,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the 4th quarter worth about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources during the 4th quarter valued at about $27,000. 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.