EOG Resources (NYSE:EOG) Shares Down 4.3% – Should You Sell?

EOG Resources, Inc. (NYSE:EOG)’s stock price dropped 4.3% on Wednesday . The company traded as low as $147.50 and last traded at $147.1940. 375,505 shares changed hands during trading, a decline of 91% from the average session volume of 4,139,958 shares. The stock had previously closed at $153.74.

Analysts Set New Price Targets

EOG has been the topic of several research reports. Mizuho set a $157.00 price target on shares of EOG Resources and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Zacks Research downgraded shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Truist Financial lifted their price objective on shares of EOG Resources from $134.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Wells Fargo & Company restated an “overweight” rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Finally, Seaport Research Partners initiated coverage on EOG Resources in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.11.

EOG Resources Trading Up 0.4%

The firm’s 50 day moving average is $144.26 and its 200 day moving average is $138.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The company has a market cap of $76.32 billion, a PE ratio of 11.32, a PEG ratio of 0.54 and a beta of 0.26.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the prior year, the company posted $2.32 EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities analysts anticipate that EOG Resources, Inc. will post 16.75 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio is presently 31.75%.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 7,336 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares in the company, valued at $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.14% of the company’s stock.

Institutional Trading of EOG Resources

A number of large investors have recently modified their holdings of EOG. BlackRock Inc. bought a new stake in EOG Resources during the second quarter worth about $5,905,587,000. Bank of New York Mellon Corp purchased a new position in shares of EOG Resources in the 2nd quarter worth about $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources during the 2nd quarter valued at about $551,321,000. Deutsche Bank AG bought a new position in shares of EOG Resources during the 2nd quarter valued at about $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of EOG Resources during the 2nd quarter valued at about $168,029,000. Institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.