UBS Group Raises EOG Resources (NYSE:EOG) Price Target to $78.00

EOG Resources (NYSE:EOG) had its price target increased by UBS Group from $59.00 to $78.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the energy exploration company’s stock.

A number of other analysts also recently weighed in on EOG. Siebert Williams Shank began coverage on EOG Resources in a research note on Monday, June 15th. They issued a hold rating and a $60.00 price target on the stock. Standpoint Research downgraded EOG Resources from a buy rating to a hold rating in a research note on Monday, May 18th. SunTrust Banks upgraded EOG Resources from a hold rating to a buy rating and lifted their price target for the company from $50.00 to $70.00 in a research note on Friday, June 19th. Credit Suisse Group lifted their price target on EOG Resources from $50.00 to $58.00 and gave the company an outperform rating in a research note on Friday, May 8th. Finally, Citigroup lifted their price target on EOG Resources from $48.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, April 29th. Twelve research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. EOG Resources has a consensus rating of Buy and a consensus target price of $71.67.

Shares of EOG stock opened at $50.52 on Monday. The business’s 50 day moving average is $52.36 and its two-hundred day moving average is $59.55. EOG Resources has a twelve month low of $27.00 and a twelve month high of $92.10. The company has a market capitalization of $29.49 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 29.85 and a beta of 1.98. The company has a current ratio of 1.51, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 7th. The energy exploration company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.11). EOG Resources had a net margin of 11.69% and a return on equity of 11.89%. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities analysts predict that EOG Resources will post 0.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.97%. EOG Resources’s dividend payout ratio (DPR) is 30.12%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in EOG Resources by 2.4% in the first quarter. Capital Research Global Investors now owns 62,020,810 shares of the energy exploration company’s stock valued at $2,227,784,000 after purchasing an additional 1,472,623 shares during the last quarter. Capital International Investors increased its stake in EOG Resources by 28.3% in the first quarter. Capital International Investors now owns 55,138,808 shares of the energy exploration company’s stock valued at $1,980,582,000 after purchasing an additional 12,170,763 shares during the last quarter. BlackRock Inc. increased its stake in EOG Resources by 8.7% in the first quarter. BlackRock Inc. now owns 39,958,429 shares of the energy exploration company’s stock valued at $1,435,306,000 after purchasing an additional 3,205,740 shares during the last quarter. State Street Corp increased its stake in EOG Resources by 8.5% in the first quarter. State Street Corp now owns 30,595,808 shares of the energy exploration company’s stock valued at $1,099,001,000 after purchasing an additional 2,394,120 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in EOG Resources by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 17,268,965 shares of the energy exploration company’s stock valued at $620,301,000 after purchasing an additional 636,408 shares during the last quarter. 87.13% of the stock is owned by institutional investors.

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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Analyst Recommendations for EOG Resources (NYSE:EOG)

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