EOG Resources (NYSE:EOG) Raised to “Buy” at StockNews.com

EOG Resources (NYSE:EOG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

EOG has been the topic of several other reports. Mizuho lifted their target price on shares of EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $147.00 price target on shares of EOG Resources in a report on Wednesday, July 10th. Morgan Stanley upped their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. TD Cowen upped their price target on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Finally, 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. Fourteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $143.40.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $0.26 on Monday, hitting $123.18. 5,001,349 shares of the company were exchanged, compared to its average volume of 3,211,864. The firm has a market capitalization of $70.79 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 2.15 and a beta of 1.30. The company’s 50 day moving average price is $124.57 and its two-hundred day moving average price is $123.78. EOG Resources has a one year low of $108.94 and a one year high of $139.67. 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 earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.65%. EOG Resources’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. Research analysts expect that EOG Resources will post 12.13 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In related news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the sale, the chief executive officer now owns 150,474 shares of the company’s stock, valued at $19,457,792.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the sale, the executive vice president now directly owns 109,040 shares in the company, valued at approximately $14,206,821.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ezra Y. Yacob sold 4,729 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the transaction, the chief executive officer now owns 150,474 shares in the company, valued at $19,457,792.94. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock worth $2,144,972 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new position in EOG Resources in the 2nd quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the second quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in EOG Resources during the second quarter valued at approximately $30,000. Sachetta LLC bought a new position in EOG Resources in the fourth quarter worth approximately $33,000. Finally, Triad Wealth Partners LLC bought a new position in EOG Resources in the second quarter worth approximately $35,000. 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.