Bank of America downgraded shares of EOG Resources (NYSE:EOG) from a buy rating to a neutral rating in a research note released on Thursday morning. Bank of America currently has $125.00 target price on the energy exploration company’s stock. The analysts noted that the move was a valuation call.
EOG has been the subject of a number of other reports. Morgan Stanley set a $116.00 price objective on EOG Resources and gave the company a buy rating in a research report on Wednesday, October 18th. Barclays raised their price objective on EOG Resources from $101.00 to $117.00 and gave the company an overweight rating in a research report on Wednesday, October 11th. Zacks Investment Research cut EOG Resources from a buy rating to a hold rating in a research report on Friday, October 20th. Credit Suisse Group started coverage on EOG Resources in a research report on Monday, December 11th. They issued a neutral rating and a $106.00 price objective for the company. Finally, Jefferies Group set a $101.00 price objective on EOG Resources and gave the company a hold rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. EOG Resources presently has an average rating of Buy and an average target price of $111.55.
EOG Resources (EOG) traded up $0.02 during mid-day trading on Thursday, reaching $110.95. The company’s stock had a trading volume of 2,124,900 shares, compared to its average volume of 2,364,367. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.11 and a current ratio of 1.27. The company has a market capitalization of $64,750.00, a P/E ratio of 11,095.00, a price-to-earnings-growth ratio of 5.15 and a beta of 0.98. EOG Resources has a 12-month low of $81.99 and a 12-month high of $111.83.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 2nd. The energy exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.07. EOG Resources had a return on equity of 1.73% and a net margin of 0.10%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the firm posted ($0.40) earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. equities analysts forecast that EOG Resources will post 0.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a dividend of $0.1675 per share. The ex-dividend date is Tuesday, January 16th. This represents a $0.67 annualized dividend and a yield of 0.60%. EOG Resources’s payout ratio is currently 6,700.00%.
In related news, CFO Timothy K. Driggers sold 8,871 shares of EOG Resources stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $105.45, for a total transaction of $935,446.95. Following the completion of the sale, the chief financial officer now directly owns 185,157 shares of the company’s stock, valued at approximately $19,524,805.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 1,741 shares of EOG Resources stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $106.00, for a total value of $184,546.00. Following the sale, the executive vice president now directly owns 75,118 shares of the company’s stock, valued at $7,962,508. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,726 shares of company stock valued at $1,921,181. 0.53% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of EOG. Capital Research Global Investors increased its stake in EOG Resources by 14.7% during the 2nd quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock worth $3,787,329,000 after acquiring an additional 5,368,941 shares during the period. Ameriprise Financial Inc. increased its stake in EOG Resources by 64.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,293,904 shares of the energy exploration company’s stock worth $479,202,000 after acquiring an additional 2,083,122 shares during the period. Capital World Investors increased its stake in EOG Resources by 9.9% during the 2nd quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock worth $1,580,657,000 after acquiring an additional 1,568,085 shares during the period. UBS Asset Management Americas Inc. increased its stake in EOG Resources by 49.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,408,298 shares of the energy exploration company’s stock worth $399,039,000 after acquiring an additional 1,452,947 shares during the period. Finally, Findlay Park Partners LLP bought a new position in EOG Resources during the 2nd quarter worth $120,097,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.
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About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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