EOG Resources, Inc. (NYSE:EOG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of EOG Resources, Inc. (NYSE:EOG) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $139.58.

A number of research analysts have weighed in on the stock. Piper Sandler dropped their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Scotiabank raised EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $150.00 to $130.00 in a report on Friday, April 11th. Citigroup lowered their price objective on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th.

EOG Resources Trading Up 1.6%

Shares of EOG Resources stock opened at $119.80 on Thursday. The stock has a market capitalization of $65.39 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a 50 day moving average price of $111.34 and a two-hundred day moving average price of $122.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. EOG Resources’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business earned $2.82 EPS. As a group, equities analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.41%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is presently 36.18%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of EOG. Y.D. More Investments Ltd raised its stake in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares during the period. Mainstream Capital Management LLC bought a new stake in EOG Resources in the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new stake in EOG Resources during the first quarter valued at about $26,000. Keystone Financial Group Inc. bought a new position in EOG Resources during the fourth quarter worth about $27,000. Finally, Lee Danner & Bass Inc. bought a new position in EOG Resources during the fourth quarter worth about $28,000. Institutional investors own 89.91% of the company’s stock.

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.