EOG Resources, Inc. (EOG) Given a $116.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $116.00 price objective on EOG Resources, Inc. (NYSE:EOG) in a research note issued to investors on Wednesday. The firm currently has a buy rating on the energy exploration company’s stock.

A number of other brokerages also recently issued reports on EOG. Imperial Capital began coverage on EOG Resources in a research report on Thursday, September 28th. They set an outperform rating and a $115.00 price target on the stock. J P Morgan Chase & Co increased their price target on EOG Resources from $90.00 to $96.00 and gave the stock a neutral rating in a research report on Thursday, October 12th. Robert W. Baird set a $114.00 target price on EOG Resources and gave the stock a buy rating in a research note on Thursday, October 12th. BMO Capital Markets set a $105.00 target price on EOG Resources and gave the stock a buy rating in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada set a $107.00 target price on EOG Resources and gave the stock a hold rating in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. EOG Resources has an average rating of Buy and a consensus target price of $108.68.

EOG Resources (EOG) traded down 0.93% during trading on Wednesday, hitting $95.76. The company had a trading volume of 1,864,797 shares. EOG Resources has a one year low of $81.99 and a one year high of $109.37. The company’s market capitalization is $55.30 billion. The stock has a 50-day moving average of $93.32 and a 200 day moving average of $91.71.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.51 billion. EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. Equities analysts forecast that EOG Resources will post $0.64 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be issued a dividend of $0.1675 per share. The ex-dividend date is Monday, October 16th. This represents a $0.67 dividend on an annualized basis and a yield of 0.70%. EOG Resources’s payout ratio is currently -131.37%.

In other EOG Resources news, Director Charles R. Crisp sold 3,411 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $97.03, for a total transaction of $330,969.33. Following the completion of the sale, the director now directly owns 53,196 shares in the company, valued at approximately $5,161,607.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary L. Thomas sold 25,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $96.63, for a total value of $2,415,750.00. Following the sale, the insider now owns 1,067,465 shares of the company’s stock, valued at $103,149,142.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,578 shares of company stock valued at $3,700,882. Company insiders own 0.53% of the company’s stock.

A number of institutional investors have recently modified their holdings of EOG. BlackRock Inc. grew its holdings in EOG Resources by 2,098.0% during the 1st quarter. BlackRock Inc. now owns 35,740,352 shares of the energy exploration company’s stock worth $3,486,473,000 after acquiring an additional 34,114,299 shares during the period. Capital Research Global Investors grew its holdings in EOG Resources by 14.7% during the 2nd quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock worth $3,787,329,000 after acquiring an additional 5,368,941 shares during the period. Ameriprise Financial Inc. grew its holdings in EOG Resources by 64.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,293,904 shares of the energy exploration company’s stock worth $479,202,000 after acquiring an additional 2,083,122 shares during the period. Capital World Investors grew its holdings in EOG Resources by 9.9% during the 2nd quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock worth $1,580,657,000 after acquiring an additional 1,568,085 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in EOG Resources by 49.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,408,298 shares of the energy exploration company’s stock worth $399,039,000 after acquiring an additional 1,452,947 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About EOG Resources

EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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