EOG Resources (NYSE:EOG) Shares Gap Up to $112.02

Posted by Defense World Staff on May 21st, 2023

EOG Resources, Inc. (NYSE:EOG – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $112.02, but opened at $114.78. EOG Resources shares last traded at $115.43, with a volume of 1,053,061 shares changing hands.

Wall Street Analyst Weigh In

EOG has been the subject of a number of research reports. Truist Financial increased their price target on EOG Resources from $146.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. JPMorgan Chase & Co. increased their price target on EOG Resources from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 12th. Roth Capital reiterated a “buy” rating on shares of EOG Resources in a research report on Friday, February 24th. Credit Suisse Group reduced their price objective on EOG Resources from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Finally, StockNews.com assumed coverage on EOG Resources in a research note on Thursday. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.38.

EOG Resources Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.17 and a quick ratio of 1.90. The company has a fifty day simple moving average of $113.79 and a two-hundred day simple moving average of $124.42. The company has a market capitalization of $67.02 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 0.33 and a beta of 1.53.

EOG Resources (NYSE:EOG – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The energy exploration company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.27. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.28 billion. EOG Resources had a return on equity of 30.34% and a net margin of 33.83%. The firm’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.00 earnings per share. On average, analysts forecast that EOG Resources, Inc. will post 11.96 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, July 14th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.88%. EOG Resources’s payout ratio is presently 20.64%.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Financial Corp CA bought a new position in EOG Resources during the fourth quarter valued at about $763,000. Russell Investments Group Ltd. increased its stake in EOG Resources by 23.5% during the third quarter. Russell Investments Group Ltd. now owns 359,218 shares of the energy exploration company’s stock valued at $40,172,000 after acquiring an additional 68,282 shares during the period. Personal Capital Advisors Corp increased its stake in EOG Resources by 30.9% during the third quarter. Personal Capital Advisors Corp now owns 3,090 shares of the energy exploration company’s stock valued at $345,000 after acquiring an additional 730 shares during the period. AE Wealth Management LLC increased its stake in EOG Resources by 94.6% during the fourth quarter. AE Wealth Management LLC now owns 69,704 shares of the energy exploration company’s stock valued at $9,028,000 after acquiring an additional 33,889 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in EOG Resources by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 112,849 shares of the energy exploration company’s stock valued at $14,615,000 after acquiring an additional 2,245 shares during the period. 87.40% of the stock is currently owned by institutional investors.

EOG Resources Company Profile

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EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.