EOG Resources (NYSE:EOG) Sets New 52-Week High – What’s Next?

EOG Resources, Inc. (NYSE:EOG) reached a new 52-week high during trading on Tuesday . The company traded as high as $154.13 and last traded at $153.75, with a volume of 1906927 shares trading hands. The stock had previously closed at $148.54.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Wall Street Zen cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Citigroup reissued a “neutral” rating and issued a $150.00 price objective (up from $141.00) on shares of EOG Resources in a report on Thursday, August 27th. The Goldman Sachs Group restated a “neutral” rating and set a $151.00 price objective (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Barclays set a $147.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $170.00 price objective (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $158.00.

EOG Resources Price Performance

The firm has a market capitalization of $80.46 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.55 and a beta of 0.26. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $143.48 and a two-hundred day moving average price of $138.38.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the business earned $2.32 EPS. The firm’s revenue was up 57.4% on a year-over-year basis. As a group, research analysts forecast that EOG Resources, Inc. will post 16.75 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at $14,882,584. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ezra Yacob sold 35,942 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The SEC filing for this sale provides additional information. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Jupiter Topco LLC acquired a new position in shares of EOG Resources during the second quarter valued at $138,987,000. Punch & Associates Investment Management Inc. acquired a new stake in EOG Resources in the second quarter worth about $11,746,000. Parvin Asset Management LLC bought a new position in EOG Resources in the 2nd quarter valued at about $1,743,000. Ilmarinen Mutual Pension Insurance Co grew its position in EOG Resources by 39.2% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock valued at $9,136,000 after buying an additional 24,500 shares in the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in EOG Resources during the 2nd quarter valued at about $1,051,000. 89.91% of the stock is owned by institutional investors.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.