EOG Resources (NYSE:EOG) Sets New 12-Month High on Analyst Upgrade

EOG Resources, Inc. (NYSE:EOG)’s share price hit a new 52-week high on Tuesday after Susquehanna raised their price target on the stock from $170.00 to $187.00. Susquehanna currently has a positive rating on the stock. EOG Resources traded as high as $159.00 and last traded at $157.7310, with a volume of 2,354,862 shares changing hands. The stock had previously closed at $158.01.

Several other research firms have also recently commented on EOG. Capital One Financial cut EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target on the stock. in a research note on Wednesday, August 26th. Morgan Stanley raised their price objective on EOG Resources from $157.00 to $163.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 target price on shares of EOG Resources in a research report on Saturday, October 3rd. Finally, Stifel Nicolaus started coverage on EOG Resources in a research report on Thursday, September 10th. They issued a “hold” rating and a $158.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $161.24.

Insider Activity

In other news, EVP Michael Donaldson sold 7,336 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 100,558 shares in the company, valued at approximately $14,882,584. This represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ezra Yacob sold 35,942 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by insiders.

Key Headlines Impacting EOG Resources

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Analyst targets raised: Susquehanna lifted its price target to $187 and assigned a positive rating, implying meaningful upside from recent levels. BMO also increased its target from $170 to $175, signaling continued confidence in EOG’s outlook. Susquehanna raises EOG target to $187 BMO raises EOG target to $175
• Positive Sentiment: Better-than-expected results: EOG reported adjusted earnings of $5.07 per share, above the $4.97 consensus estimate. Revenue reached $8.62 billion versus expectations of $8.04 billion, while revenue increased 57.4% year over year. The results were attributed to production gains, efficient asset utilization and disciplined execution. EOG reports $5.07 adjusted EPS
• Positive Sentiment: Improving momentum: Recent earnings beats and upward profit-estimate revisions have helped EOG reach a new 52-week high, reinforcing investor confidence in its drilling efficiency, infrastructure investments and long-term profitability. What EOG’s earnings beat means for shareholders
• Neutral Sentiment: Valuation remains debated: Some analysis characterizes EOG as undervalued based on earnings and cash-flow potential, while another cautions that the stock may trade below fair value only after a roughly 113% five-year gain. The strong rally and elevated valuation could temper additional gains despite favorable fundamentals. EOG may trade below fair value after its run Is EOG undervalued?

Institutional Investors Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC bought a new position in shares of EOG Resources in the second quarter worth $138,987,000. Punch & Associates Investment Management Inc. acquired a new position in shares of EOG Resources during the second quarter valued at $11,746,000. Parvin Asset Management LLC acquired a new position in shares of EOG Resources during the second quarter valued at $1,743,000. Transamerica Financial Advisors LLC acquired a new position in shares of EOG Resources during the second quarter valued at $1,051,000. Finally, Rakuten Investment Management Inc. bought a new stake in shares of EOG Resources during the second quarter valued at about $11,517,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 0.1%

The business’s 50 day moving average is $146.89 and its two-hundred day moving average is $140.54. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $82.89 billion, a P/E ratio of 12.30, a PEG ratio of 0.56 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 earnings per share. Analysts expect that EOG Resources, Inc. will post 17.48 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 16th. EOG Resources’s payout ratio is 31.75%.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.