EOG Resources (NYSE:EOG) Earns Equal Weight Rating from Analysts at Stephens

Stephens assumed coverage on shares of EOG Resources (NYSE:EOG) in a report released on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $137.00 target price on the energy exploration company’s stock.

Several other research firms also recently issued reports on EOG. Mizuho cut their price target on EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Williams Trading set a $154.00 price objective on EOG Resources in a research report on Wednesday, March 5th. Susquehanna dropped their price objective on EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on EOG Resources from $146.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and an average price target of $139.95.

EOG Resources Trading Down 0.7%

NYSE:EOG opened at $123.79 on Tuesday. The stock has a fifty day moving average price of $113.15 and a two-hundred day moving average price of $121.66. The stock has a market capitalization of $67.56 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 10.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. EOG Resources has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 earnings per share. As a group, sell-side analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.30%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources’s dividend payout ratio (DPR) is presently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was 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 of the company’s stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of EOG. Nuveen LLC acquired a new position in shares of EOG Resources in the 1st quarter valued at about $451,908,000. Wealthfront Advisers LLC lifted its stake in shares of EOG Resources by 4,642.2% in the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after purchasing an additional 2,792,092 shares in the last quarter. Capital World Investors lifted its position in EOG Resources by 5.2% during 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 acquiring an additional 2,270,013 shares in the last quarter. Raymond James Financial Inc. acquired a new position in EOG Resources during the 4th quarter worth approximately $171,193,000. Finally, GAMMA Investing LLC lifted its position in EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company’s stock worth $164,323,000 after acquiring an additional 1,272,765 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

About EOG Resources

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.