EOG Resources (NYSE:EOG) Sets New 1-Year High – Should You Buy?

EOG Resources, Inc. (NYSE:EOG) shares reached a new 52-week high during trading on Tuesday. The company traded as high as $159.00 and last traded at $157.7310, with a volume of 2,354,862 shares changing hands. The stock had previously closed at $158.01.

Key Stories Impacting EOG Resources

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: BMO raises price target: BMO Capital increased its target for EOG to $175 from $170, signaling continued confidence in the company’s outlook and potential upside. BMO Capital adjusts price target on EOG Resources
• Positive Sentiment: Strong-buy rankings: Zacks added EOG to its Rank #1, or “Strong Buy,” lists for overall stocks, growth, value and momentum. These rankings cite above-average financial growth and favorable momentum indicators. Best Momentum Stock to Buy
• Positive Sentiment: Higher crude prices and Permian efficiency: Zacks highlighted EOG among oil producers positioned to benefit from rising crude prices, advanced drilling technology, lower development costs and disciplined capital spending in the Permian Basin. Buy Giant Oil Explorers to Tap Rising Crude Prices
• Neutral Sentiment: Near a 52-week high: EOG’s strong run has prompted analysis of whether investors should continue holding or take profits. The stock’s momentum is constructive, but its elevated level may increase sensitivity to profit-taking. EOG Reaches a 52-Week High
• Negative Sentiment: Limited consensus upside: A reported consensus price target of $160.56 is only modestly above the recent trading level, potentially encouraging some investors to lock in gains while awaiting a fresh catalyst. EOG Consensus Target Price

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Mizuho set a $165.00 target price on EOG Resources in a research note on Thursday. Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target on shares of EOG Resources in a research note on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eighteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.56.

EOG Resources Price Performance

The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average is $146.30 and its 200-day moving average is $140.31. The company has a market cap of $82.73 billion, a PE ratio of 11.74, a PEG ratio of 0.57 and a beta of 0.36.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for 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%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 earnings per share. On average, equities analysts anticipate that EOG Resources, Inc. will post 17.48 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.6%. EOG Resources’s dividend payout ratio is 31.75%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey Leitzell sold 9,039 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the transaction, the chief operating officer owned 90,790 shares of the company’s stock, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC increased its stake in shares of EOG Resources by 665.0% during the third quarter. CWA Asset Management Group LLC now owns 29,668 shares of the energy exploration company’s stock valued at $4,087,000 after purchasing an additional 25,790 shares in the last quarter. CFS Investment Advisory Services LLC lifted its holdings in shares of EOG Resources by 11.8% during the third quarter. CFS Investment Advisory Services LLC now owns 2,706 shares of the energy exploration company’s stock valued at $390,000 after purchasing an additional 285 shares during the last quarter. New Wave Wealth Advisors LLC lifted its holdings in shares of EOG Resources by 10.2% during the third quarter. New Wave Wealth Advisors LLC now owns 8,260 shares of the energy exploration company’s stock valued at $1,138,000 after purchasing an additional 765 shares during the last quarter. LexAurum Advisors LLC lifted its holdings in shares of EOG Resources by 8.5% during the third quarter. LexAurum Advisors LLC now owns 2,996 shares of the energy exploration company’s stock valued at $413,000 after purchasing an additional 234 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of EOG Resources by 204.6% in the 3rd quarter. IFP Advisors Inc now owns 18,875 shares of the energy exploration company’s stock worth $2,600,000 after purchasing an additional 12,679 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

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. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.