EOG Resources (NYSE:EOG) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Raymond James Financial reiterated a “strong-buy” rating and issued a $186.00 price target (up from $183.00) on shares of EOG Resources in a research note on Thursday, September 17th. Roth Capital reissued a “neutral” rating and set a $138.00 price objective on shares of EOG Resources in a report on Wednesday, August 5th. Jefferies Financial Group restated a “buy” rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research report on Thursday, July 2nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $170.00 target price (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average target price of $158.11.

EOG Resources Trading Down 1.8%

EOG opened at $140.26 on Friday. The company’s 50 day moving average is $144.71 and its 200-day moving average is $139.37. EOG Resources has a 1-year low of $101.59 and a 1-year high of $154.16. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a market cap of $73.57 billion, a P/E ratio of 10.92, a PEG ratio of 0.52 and a beta of 0.26.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.32 EPS. Equities research analysts predict that EOG Resources will post 16.85 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.

Insiders Place Their Bets

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction on 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 sale, the chief executive officer directly 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently made changes to their positions in EOG. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Financial Life Planners acquired a new stake in EOG Resources during the 1st quarter valued at approximately $30,000. Wedbush Fund Advisers LLC acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $31,000. Global Assets Advisory LLC acquired a new stake in EOG Resources during the 1st quarter valued at approximately $37,000. Finally, Main Street Group LTD bought a new position in EOG Resources during the 1st quarter worth approximately $38,000. 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.