EOG Resources (NYSE:EOG) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report report published on Monday.

Other equities analysts also recently issued research reports about the company. Raymond James cut their price target on EOG Resources from $148.00 to $145.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Citigroup lifted their target price on shares of EOG Resources from $120.00 to $124.00 and gave the stock a neutral rating in a research report on Monday, March 18th. Morgan Stanley lifted their target price on shares of EOG Resources from $132.00 to $133.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Stifel Nicolaus dropped their target price on shares of EOG Resources from $163.00 to $153.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Finally, KeyCorp lifted their target price on shares of EOG Resources from $147.00 to $157.00 and gave the stock an overweight rating in a research report on Monday. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $142.19.

EOG Resources Price Performance

EOG stock opened at $135.60 on Monday. The company has a market capitalization of $78.00 billion, a P/E ratio of 10.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. The business has a 50-day simple moving average of $124.83 and a two-hundred day simple moving average of $122.36.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. EOG Resources’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 EPS. Research analysts expect that EOG Resources will post 12.15 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.68%. EOG Resources’s dividend payout ratio is currently 27.98%.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently made changes to their positions in EOG. McIlrath & Eck LLC lifted its position in shares of EOG Resources by 77.6% during the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 104 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of EOG Resources by 530.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 212 shares in the last quarter. Peoples Bank KS bought a new position in shares of EOG Resources in the third quarter worth $31,000. Sachetta LLC bought a new position in shares of EOG Resources in the fourth quarter worth $33,000. Finally, Hall Laurie J Trustee bought a new position in shares of EOG Resources in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

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.