EOG Resources (NYSE:EOG) Coverage Initiated at KeyCorp

KeyCorp began coverage on shares of EOG Resources (NYSE:EOGGet Rating) in a report issued on Monday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $157.00 price target on the energy exploration company’s stock. KeyCorp also issued estimates for EOG Resources’ Q3 2022 earnings at $4.12 EPS, Q4 2022 earnings at $4.44 EPS, FY2022 earnings at $15.31 EPS, Q1 2023 earnings at $3.84 EPS, Q2 2023 earnings at $3.87 EPS, Q3 2023 earnings at $4.01 EPS, Q4 2023 earnings at $4.11 EPS and FY2023 earnings at $15.83 EPS.

A number of other equities research analysts have also recently commented on the company. MKM Partners increased their target price on EOG Resources from $122.00 to $130.00 and gave the stock a buy rating in a research note on Friday, August 26th. Johnson Rice raised EOG Resources from a hold rating to a buy rating and increased their target price for the stock from $155.00 to $165.00 in a research note on Tuesday, May 24th. TD Securities raised EOG Resources from a hold rating to a buy rating and set a $135.00 price target on the stock in a report on Friday, August 5th. JPMorgan Chase & Co. raised EOG Resources from a neutral rating to an overweight rating and upped their price target for the company from $152.00 to $156.00 in a report on Thursday, September 15th. Finally, Royal Bank of Canada downgraded EOG Resources from an outperform rating to a sector perform rating and set a $150.00 price target on the stock. in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of Moderate Buy and a consensus target price of $146.85.

EOG Resources Price Performance

Shares of EOG stock opened at $118.35 on Monday. The stock has a market cap of $69.36 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.25 and a beta of 1.55. The business’s fifty day moving average is $114.44 and its 200 day moving average is $118.62. EOG Resources has a twelve month low of $74.48 and a twelve month high of $147.99. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

EOG Resources (NYSE:EOGGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($1.51). EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the previous year, the company earned $1.73 earnings per share. EOG Resources’s revenue for the quarter was up 79.0% on a year-over-year basis. Research analysts expect that EOG Resources will post 15.65 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $1.50 per share. This is a positive change from EOG Resources’s previous special dividend of $1.00. The ex-dividend date is Wednesday, September 14th. EOG Resources’s payout ratio is 30.77%.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of EOG. Lumature Wealth Partners LLC bought a new position in shares of EOG Resources in the first quarter worth approximately $28,000. BDO Wealth Advisors LLC boosted its position in shares of EOG Resources by 476.2% in the first quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Miller Wealth Advisors LLC boosted its position in shares of EOG Resources by 126.1% in the second quarter. Miller Wealth Advisors LLC now owns 269 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 150 shares during the period. HBC Financial Services PLLC bought a new position in shares of EOG Resources during the first quarter worth $33,000. Finally, HM Payson & Co. bought a new position in shares of EOG Resources during the first quarter worth $33,000. 88.30% of the stock is currently owned by institutional investors.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

Further Reading

Analyst Recommendations for EOG Resources (NYSE:EOG)

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