EOG Resources, Inc. (NYSE:EOG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of EOG Resources, Inc. (NYSE:EOG) have earned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $140.63.

A number of brokerages have recently commented on EOG. Raymond James reaffirmed a “strong-buy” rating and issued a $140.00 target price on shares of EOG Resources in a report on Monday, April 21st. Susquehanna cut their target price on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. KeyCorp cut their target price on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays dropped their price objective on shares of EOG Resources from $140.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of EOG Resources by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock worth $6,922,633,000 after purchasing an additional 348,895 shares in the last quarter. Capital World Investors boosted its position in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock worth $2,485,402,000 after buying an additional 1,188,552 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of EOG Resources by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after buying an additional 234,067 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of EOG Resources by 6.3% in the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock worth $779,433,000 after buying an additional 358,916 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Down 0.4%

Shares of NYSE:EOG opened at $115.43 on Friday. The firm has a 50 day simple moving average of $115.84 and a 200-day simple moving average of $124.30. The company has a market capitalization of $63.00 billion, a PE ratio of 9.29, a P/E/G ratio of 3.58 and a beta of 0.78. EOG Resources has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. On average, equities analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $3.90 annualized dividend and a dividend yield of 3.38%. EOG Resources’s payout ratio is currently 36.18%.

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.