EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of “Hold” from Brokerages

EOG Resources, Inc. (NYSE:EOG) has been assigned an average recommendation of “Hold” from the thirty analysts that are covering the company, MarketBeat.com reports. Eighteen analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $158.11.

Several equities research analysts have issued reports on EOG shares. Seaport Research Partners assumed coverage on shares of EOG Resources in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Barclays set a $147.00 target price on shares of EOG Resources and gave the company an “equal weight” rating in a research note on Monday, August 17th. The Goldman Sachs Group restated a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Finally, Capital One Financial downgraded EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price objective on the stock. in a report on Wednesday, August 26th.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares in the company, valued at $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,317 shares of company stock valued at $7,823,480 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in EOG. BlackRock Inc. acquired a new stake in shares of EOG Resources during the second quarter worth approximately $5,905,587,000. Bank of New York Mellon Corp acquired a new position in shares of EOG Resources in the 2nd quarter worth approximately $654,899,000. Bank of America Corp DE bought a new stake in EOG Resources during the 2nd quarter worth approximately $551,321,000. Deutsche Bank AG bought a new stake in EOG Resources during the 2nd quarter worth approximately $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in EOG Resources in the 2nd quarter valued at $168,029,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $139.71 on Wednesday. EOG Resources has a 1-year low of $101.59 and a 1-year high of $154.16. The firm has a market capitalization of $73.28 billion, a PE ratio of 10.87, a PEG ratio of 0.52 and a beta of 0.26. The business’s 50 day moving average is $144.63 and its 200-day moving average is $139.56. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.EOG Resources’s revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.32 earnings per share. Sell-side analysts predict that EOG Resources will post 16.85 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.