EOG Resources (NYSE:EOG) Now Covered by Melius Research

Melius Research initiated coverage on shares of EOG Resources (NYSE:EOG) in a report published on Wednesday,Benzinga reports. The firm issued a buy rating and a $173.00 price target on the energy exploration company’s stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group restated a “buy” rating and issued a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Royal Bank Of Canada dropped their price target on shares of EOG Resources from $145.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Bank of America reduced their price objective on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Susquehanna lifted their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler dropped their target price on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.61.

EOG Resources Trading Up 0.8%

EOG Resources stock opened at $118.2950 on Wednesday. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock has a market capitalization of $64.59 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 8.96 and a beta of 0.80. The firm has a 50 day simple moving average of $120.31 and a 200-day simple moving average of $119.25.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. As a group, equities research analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s payout ratio is currently 37.90%.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares of the company’s stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its position in EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 219 shares during the period. Saudi Central Bank purchased a new stake in EOG Resources in the 1st quarter worth about $28,000. Raleigh Capital Management Inc. acquired a new stake in EOG Resources during the 2nd quarter worth about $29,000. Finally, Alpine Bank Wealth Management purchased a new position in EOG Resources during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.