EOG Resources (NYSE:EOG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a report released on Wednesday.

Several other research analysts also recently commented on the company. Susquehanna lifted their price objective on EOG Resources from $147.00 to $155.00 and gave the stock a positive rating in a report on Monday, April 22nd. Mizuho lifted their price target on EOG Resources from $138.00 to $140.00 and gave the stock a buy rating in a research note on Monday, April 15th. KeyCorp boosted their price objective on EOG Resources from $147.00 to $157.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Bank of America cut shares of EOG Resources from a buy rating to a neutral rating and cut their target price for the stock from $147.00 to $140.00 in a report on Friday, January 5th. Finally, TD Cowen upped their price target on shares of EOG Resources from $130.00 to $144.00 and gave the company a hold rating in a report on Tuesday. Thirteen equities 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 company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $142.27.

EOG Resources Stock Down 1.6 %

Shares of NYSE EOG opened at $129.95 on Wednesday. The stock has a market capitalization of $74.75 billion, a P/E ratio of 9.99 and a beta of 1.38. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The firm’s 50 day simple moving average is $126.80 and its two-hundred day simple moving average is $122.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13.

EOG Resources (NYSE:EOG) last released its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. EOG Resources’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 EPS. As a group, analysts expect that EOG Resources will post 12.15 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were given a dividend of $0.91 per share. The ex-dividend date was Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.80%. EOG Resources’s dividend payout ratio is presently 27.98%.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors boosted its holdings in EOG Resources by 59.2% in the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,937,070 shares of the energy exploration company’s stock valued at $1,639,903,000 after purchasing an additional 145,691 shares during the last quarter. Ameriprise Financial Inc. increased its stake in EOG Resources by 8.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after purchasing an additional 892,951 shares in the last quarter. Morgan Stanley raised its holdings in EOG Resources by 1.5% in the third quarter. Morgan Stanley now owns 7,789,774 shares of the energy exploration company’s stock worth $987,432,000 after buying an additional 116,860 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of EOG Resources by 3.1% in the third quarter. Northern Trust Corp now owns 6,260,706 shares of the energy exploration company’s stock worth $793,607,000 after buying an additional 185,882 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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.