EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of “Moderate Buy” from Brokerages

EOG Resources, Inc. (NYSE:EOG) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $140.63.

EOG has been the subject of a number of research reports. Barclays cut their target price on shares of EOG Resources from $140.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut their target price on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Piper Sandler cut their target price on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Mizuho cut their target price on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research report on Tuesday.

EOG Resources Price Performance

EOG opened at $115.79 on Friday. The firm has a market cap of $63.20 billion, a P/E ratio of 9.32, a PEG ratio of 3.58 and a beta of 0.78. The firm has a 50-day moving average of $116.02 and a 200 day moving average of $124.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, research analysts expect that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, July 17th. EOG Resources’s dividend payout ratio is currently 36.18%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of EOG Resources during the first quarter worth approximately $451,908,000. Wealthfront Advisers LLC raised its stake in shares of EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after acquiring an additional 2,792,092 shares in the last quarter. Capital World Investors raised its stake in shares of EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of EOG Resources during the fourth quarter worth approximately $171,193,000. Finally, GAMMA Investing LLC raised its stake in shares of EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company’s stock worth $164,323,000 after acquiring an additional 1,272,765 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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.