EOG Resources (NYSE:EOG) Sets New 1-Year High – Still a Buy?

EOG Resources, Inc. (NYSE:EOG)’s stock price reached a new 52-week high on Monday. The company traded as high as $165.11 and last traded at $162.78, with a volume of 3,228,129 shares. The stock had previously closed at $163.03.

Wall Street Analyst Weigh In

A number of research firms have commented on EOG. Citigroup reissued a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research note on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $161.24.

EOG Resources Price Performance

The business’s fifty day moving average price is $148.30 and its two-hundred day moving average price is $135.90.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.32 EPS. On average, sell-side analysts predict that EOG Resources, Inc. will post 17.70 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company 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 $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 16th.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by insiders.

Institutional Trading of EOG Resources

Institutional investors have recently made changes to their positions in the business. Jupiter Topco LLC acquired a new stake in EOG Resources in the 2nd quarter valued at $138,987,000. Punch & Associates Investment Management Inc. acquired a new position in EOG Resources during the second quarter worth $11,746,000. Parvin Asset Management LLC acquired a new position in EOG Resources during the second quarter worth $1,743,000. Transamerica Financial Advisors LLC acquired a new position in EOG Resources during the second quarter worth $1,051,000. Finally, Rakuten Investment Management Inc. acquired a new position in EOG Resources during the second quarter worth $11,517,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

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. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.