EOG Resources (NYSE:EOG) Sets New 1-Year High – Time to Buy?

EOG Resources, Inc. (NYSE:EOG)’s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $154.72 and last traded at $154.5520, with a volume of 2,468 shares traded. The stock had previously closed at $153.17.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EOG shares. Roth Capital reiterated a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a research note on Wednesday, August 5th. Seaport Research Partners started coverage on EOG Resources in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Morgan Stanley set a $157.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Stifel Nicolaus initiated coverage on shares of EOG Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $158.00 price objective on the stock. Finally, Truist Financial raised their price target on shares of EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eighteen have given a Hold rating to the company. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $159.80.

EOG Resources Stock Up 0.2%

The business’s 50 day simple moving average is $144.79 and its 200 day simple moving average is $140.10. The company has a market capitalization of $80.54 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.55 and a beta of 0.36. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the previous year, the business earned $2.32 earnings per share. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, analysts forecast that EOG Resources, Inc. will post 17.13 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.7%. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Insider Transactions at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the sale, the chief operating officer directly owned 90,790 shares of the company’s stock, valued at $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EOG. Summitry LLC increased its holdings in shares of EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock valued at $699,000 after purchasing an additional 73 shares during the last quarter. Twin Capital Management Inc. raised its stake in shares of EOG Resources by 0.3% in the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company’s stock valued at $3,467,000 after acquiring an additional 79 shares during the period. Sax Wealth Advisors LLC boosted its position in shares of EOG Resources by 2.8% during the second quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company’s stock worth $377,000 after buying an additional 79 shares during the period. Paladin Wealth LLC grew its position in EOG Resources by 5.3% in the 2nd quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company’s stock valued at $207,000 after acquiring an additional 80 shares in the last quarter. Finally, Hardy Reed LLC lifted its holdings in EOG Resources by 3.8% during the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock worth $325,000 after buying an additional 82 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

About EOG Resources

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. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.