StockNews.com Lowers EOG Resources (NYSE:EOG) to Hold

StockNews.com cut shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of EOG Resources from $139.00 to $125.00 and set a market perform rating for the company in a research report on Wednesday. Benchmark restated a hold rating on shares of EOG Resources in a research report on Tuesday, May 7th. Piper Sandler upped their price objective on shares of EOG Resources from $153.00 to $154.00 and gave the stock an overweight rating in a research report on Tuesday, May 14th. Citigroup upped their price objective on shares of EOG Resources from $124.00 to $130.00 and gave the stock a neutral rating in a research report on Friday, May 24th. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $147.00 target price on shares of EOG Resources in a research report on Wednesday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $143.50.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $129.25 on Wednesday. The company’s fifty day moving average price is $125.03 and its 200 day moving average price is $123.12. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a market capitalization of $74.28 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.12. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.69 earnings per share. On average, research analysts predict that EOG Resources will post 12.09 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s payout ratio is currently 28.75%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the completion of the transaction, the chief operating officer now owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other EOG Resources news, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the completion of the transaction, the chief operating officer now owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total transaction of $168,829.92. Following the completion of the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,512 shares of company stock worth $2,144,972. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of EOG Resources by 0.3% in the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after purchasing an additional 146,674 shares during the period. Capital Research Global Investors raised its holdings in EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after acquiring an additional 373,365 shares in the last quarter. Capital World Investors raised its holdings in EOG Resources by 5.4% in the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after acquiring an additional 1,361,538 shares in the last quarter. Capital International Investors raised its holdings in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after acquiring an additional 766,056 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in EOG Resources by 26.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock valued at $598,475,000 after acquiring an additional 1,029,727 shares in the last quarter. 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.