JPMorgan Chase & Co. Lowers EOG Resources (NYSE:EOG) Price Target to $109.00

EOG Resources (NYSE:EOG) had its price objective trimmed by JPMorgan Chase & Co. from $115.00 to $109.00 in a research report sent to investors on Friday, June 28th, BenzingaRatingsTable reports. The firm currently has an overweight rating on the energy exploration company’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research report on Thursday, May 9th. KeyCorp upped their target price on WPX Energy from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Susquehanna Bancshares began coverage on Pinterest in a research note on Monday, May 6th. They set a neutral rating and a $35.00 target price for the company. TD Securities upped their target price on Viper Energy Partners from $44.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, February 28th. Finally, Oppenheimer set a $68.00 target price on ITT and gave the stock a buy rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $120.54.

NYSE EOG traded up $1.61 during trading on Friday, reaching $87.04. 3,130,163 shares of the company’s stock were exchanged, compared to its average volume of 3,183,013. The firm’s 50 day simple moving average is $87.92. The firm has a market capitalization of $49.58 billion, a PE ratio of 15.71, a P/E/G ratio of 1.42 and a beta of 1.33. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. EOG Resources has a fifty-two week low of $80.41 and a fifty-two week high of $133.53.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. EOG Resources had a return on equity of 17.10% and a net margin of 19.35%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. On average, analysts forecast that EOG Resources will post 5.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.2875 dividend. The ex-dividend date is Tuesday, July 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.22. This represents a $1.15 annualized dividend and a dividend yield of 1.32%. EOG Resources’s dividend payout ratio (DPR) is currently 20.76%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cerebellum GP LLC bought a new position in EOG Resources in the 2nd quarter valued at about $364,000. Robeco Institutional Asset Management B.V. lifted its position in EOG Resources by 0.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 107,656 shares of the energy exploration company’s stock valued at $10,028,000 after acquiring an additional 1,006 shares in the last quarter. Bessemer Group Inc. lifted its position in EOG Resources by 21.4% in the 2nd quarter. Bessemer Group Inc. now owns 1,104,678 shares of the energy exploration company’s stock valued at $102,913,000 after acquiring an additional 194,684 shares in the last quarter. USS Investment Management Ltd lifted its position in EOG Resources by 41.9% in the 2nd quarter. USS Investment Management Ltd now owns 1,907,272 shares of the energy exploration company’s stock valued at $177,729,000 after acquiring an additional 563,156 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in EOG Resources by 300.9% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,530 shares of the energy exploration company’s stock valued at $608,000 after acquiring an additional 4,901 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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