JPMorgan Chase & Co. Cuts EOG Resources (NYSE:EOG) Price Target to $121.00

by · The Cerbat Gem

EOG Resources (NYSE:EOG – Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $131.00 to $121.00 in a report released on Monday,MarketScreener reports. The firm currently has a neutral rating on the energy exploration company’s stock.

Other equities analysts have also recently issued reports about the company. Scotiabank reiterated a “sector perform” rating and issued a $130.00 price target on shares of EOG Resources in a research report on Friday, September 26th. Sanford C. Bernstein cut their target price on EOG Resources from $146.00 to $144.00 and set a “market perform” rating for the company in a research note on Friday, November 21st. Piper Sandler decreased their price target on EOG Resources from $129.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Mizuho lowered their price target on shares of EOG Resources from $140.00 to $133.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.50.

Get Our Latest Research Report on EOG

EOG Resources Price Performance

Shares of NYSE:EOG opened at $111.48 on Monday. The company has a 50-day moving average price of $108.07 and a two-hundred day moving average price of $115.04. EOG Resources has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $60.49 billion, a PE ratio of 11.10, a P/E/G ratio of 8.26 and a beta of 0.49.

EOG Resources (NYSE:EOG – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the company posted $2.89 EPS. EOG Resources’s revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, January 16th. EOG Resources’s dividend payout ratio (DPR) is currently 40.64%.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently made changes to their positions in EOG. StrongBox Wealth LLC grew its position in EOG Resources by 1.9% in the second quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company’s stock worth $576,000 after acquiring an additional 88 shares in the last quarter. ORG Partners LLC increased its position in shares of EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of EOG Resources by 31.6% during the 2nd quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company’s stock valued at $46,000 after purchasing an additional 91 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of EOG Resources by 7.2% during the 3rd quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company’s stock valued at $155,000 after buying an additional 93 shares in the last quarter. Finally, Bollard Group LLC lifted its position in EOG Resources by 0.8% in the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock worth $1,317,000 after buying an additional 93 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

(Get Free Report)

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.

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