EOG Resources (NYSE:EOG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research note released on Monday.

A number of other research analysts also recently weighed in on EOG. Susquehanna lifted their price target on EOG Resources from $155.00 to $159.00 and gave the company a positive rating in a report on Monday. Sanford C. Bernstein dropped their target price on EOG Resources from $139.00 to $125.00 and set a market perform rating on the stock in a report on Wednesday, July 17th. KeyCorp began coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an overweight rating and a $157.00 price target for the company. Piper Sandler boosted their price objective on shares of EOG Resources from $153.00 to $154.00 and gave the company an overweight rating in a research report on Tuesday, May 14th. Finally, Mizuho increased their target price on shares of EOG Resources from $140.00 to $156.00 and gave the stock a buy rating in a research report on Monday, May 13th. Fourteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $143.40.

EOG Resources Trading Down 0.7 %

EOG stock traded down $0.85 during mid-day trading on Monday, reaching $122.27. 3,807,681 shares of the stock traded hands, compared to its average volume of 3,215,818. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The stock’s fifty day moving average is $124.57 and its 200-day moving average is $123.87. The company has a market cap of $70.27 billion, a P/E ratio of 9.73, a P/E/G ratio of 2.15 and a beta of 1.30. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.65%. The business had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that EOG Resources will post 12.13 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.98%. EOG Resources’s payout ratio is presently 28.75%.

Insider Buying and Selling

In other news, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the sale, the president now directly owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 2,685 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the completion of the transaction, the executive vice president now owns 109,040 shares of the company’s stock, valued at approximately $14,206,821.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the sale, the president now owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,512 shares of company stock valued at $2,144,972. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Riverview Trust Co bought a new stake in EOG Resources in the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the second quarter valued at about $28,000. Gladius Capital Management LP acquired a new position in EOG Resources in the second quarter worth about $30,000. Sachetta LLC bought a new position in EOG Resources during the fourth quarter worth about $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in EOG Resources during the second quarter valued at approximately $35,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

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.