KeyCorp Cuts EOG Resources (NYSE:EOG) Price Target to $97.00

EOG Resources (NYSE:EOG) had its price objective trimmed by KeyCorp from $110.00 to $97.00 in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. The firm currently has an overweight rating on the energy exploration company’s stock. KeyCorp also issued estimates for EOG Resources’ Q1 2020 earnings at $1.18 EPS, Q2 2020 earnings at $1.12 EPS, Q3 2020 earnings at $1.19 EPS and Q4 2020 earnings at $1.39 EPS.

Several other brokerages have also recently weighed in on EOG. Oppenheimer lowered their price objective on shares of EOG Resources from $111.00 to $102.00 and set an outperform rating on the stock in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $109.00 to $100.00 and set an overweight rating on the stock in a research note on Thursday, August 29th. TheStreet cut shares of EOG Resources from a b- rating to a c rating in a research note on Thursday, August 15th. Raymond James reiterated a buy rating and issued a $102.00 price objective on shares of EOG Resources in a research note on Thursday, August 22nd. Finally, Morgan Stanley lowered their price objective on shares of EOG Resources from $97.00 to $95.00 and set an equal weight rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $110.38.

EOG traded down $1.49 during midday trading on Tuesday, hitting $65.28. 170,813 shares of the company traded hands, compared to its average volume of 4,139,044. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $40.21 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.57 and a beta of 1.34. The company’s 50-day moving average is $74.78 and its 200 day moving average is $85.54. EOG Resources has a 52 week low of $66.01 and a 52 week high of $120.65.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 1st. The energy exploration company reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.02). EOG Resources had a net margin of 19.69% and a return on equity of 16.25%. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the company posted $1.37 EPS. EOG Resources’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that EOG Resources will post 4.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, October 16th. EOG Resources’s dividend payout ratio is 20.76%.

Institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its holdings in EOG Resources by 5.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,773 shares of the energy exploration company’s stock worth $724,000 after acquiring an additional 413 shares in the last quarter. Wedbush Securities Inc. grew its holdings in EOG Resources by 12.7% during the 2nd quarter. Wedbush Securities Inc. now owns 3,116 shares of the energy exploration company’s stock valued at $290,000 after buying an additional 351 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in EOG Resources by 23.5% during the 3rd quarter. Douglas Lane & Associates LLC now owns 349,845 shares of the energy exploration company’s stock valued at $25,966,000 after buying an additional 66,551 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in EOG Resources by 30.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,195 shares of the energy exploration company’s stock valued at $13,433,000 after buying an additional 33,753 shares in the last quarter. Finally, Security National Bank grew its holdings in EOG Resources by 7.7% during the 3rd quarter. Security National Bank now owns 37,361 shares of the energy exploration company’s stock valued at $2,773,000 after buying an additional 2,673 shares in the last quarter. 86.54% of the stock is owned by institutional investors.

EOG Resources Company Profile

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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