Short Interest in EOG Resources, Inc. (NYSE:EOG) Declines By 9.5%

EOG Resources, Inc. (NYSE:EOG) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 6,350,000 shares, a drop of 9.5% from the October 15th total of 7,020,000 shares. Based on an average trading volume of 2,710,000 shares, the short-interest ratio is currently 2.3 days. Approximately 1.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of EOG Resources in a report on Thursday, October 5th. They issued a “hold” rating for the company. Citigroup cut shares of EOG Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $144.00 to $135.00 in a report on Monday, October 23rd. Piper Sandler increased their target price on shares of EOG Resources from $156.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Wells Fargo & Company cut their target price on shares of EOG Resources from $154.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, September 1st. Finally, Raymond James cut their target price on shares of EOG Resources from $150.00 to $140.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.73.

EOG Resources Stock Down 1.6 %

EOG stock opened at $123.07 on Thursday. EOG Resources has a 12-month low of $98.52 and a 12-month high of $146.85. The company has a quick ratio of 2.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.14. The company has a market cap of $71.77 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.36 and a beta of 1.51. The company has a 50 day moving average of $127.73 and a two-hundred day moving average of $122.26.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be given a $0.91 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.64 dividend on an annualized basis and a yield of 2.96%. EOG Resources’s dividend payout ratio is presently 24.52%.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Raymond James Financial Services Advisors Inc. increased its stake in shares of EOG Resources by 6.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 186,635 shares of the energy exploration company’s stock worth $21,359,000 after purchasing an additional 10,969 shares during the last quarter. Prospera Financial Services Inc grew its stake in EOG Resources by 196.9% in the 2nd quarter. Prospera Financial Services Inc now owns 7,593 shares of the energy exploration company’s stock valued at $870,000 after buying an additional 5,036 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in EOG Resources by 18.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 65,998 shares of the energy exploration company’s stock valued at $7,565,000 after buying an additional 10,154 shares during the last quarter. Procyon Advisors LLC grew its stake in EOG Resources by 41.9% in the 2nd quarter. Procyon Advisors LLC now owns 4,659 shares of the energy exploration company’s stock valued at $533,000 after buying an additional 1,376 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in EOG Resources by 6.6% in the 1st quarter. Continuum Advisory LLC now owns 7,112 shares of the energy exploration company’s stock valued at $815,000 after buying an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 89.21% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company.