EOG Resources, Inc. (NYSE:EOG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of EOG Resources, Inc. (NYSE:EOG) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $139.58.

EOG has been the subject of several research reports. Raymond James boosted their price target on EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a research report on Monday. Williams Trading set a $154.00 price objective on EOG Resources in a research note on Wednesday, March 5th. Scotiabank raised EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their price objective for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Morgan Stanley boosted their price objective on EOG Resources from $132.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Piper Sandler lowered their price objective on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently bought and sold shares of the company. Modern Wealth Management LLC purchased a new stake in EOG Resources during the 1st quarter worth about $229,000. Strs Ohio purchased a new stake in EOG Resources during the 1st quarter worth about $17,408,000. Ellsworth Advisors LLC increased its holdings in EOG Resources by 1.2% during the 1st quarter. Ellsworth Advisors LLC now owns 13,829 shares of the energy exploration company’s stock worth $1,773,000 after purchasing an additional 164 shares during the period. Indiana Trust & Investment Management Co increased its holdings in EOG Resources by 56.2% during the 1st quarter. Indiana Trust & Investment Management Co now owns 417 shares of the energy exploration company’s stock worth $53,000 after purchasing an additional 150 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in EOG Resources by 7.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 33,020 shares of the energy exploration company’s stock worth $4,234,000 after purchasing an additional 2,428 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Down 1.7%

EOG Resources stock opened at $110.89 on Thursday. The stock has a market capitalization of $60.52 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. EOG Resources has a 12 month low of $102.52 and a 12 month high of $138.18. The business has a 50 day simple moving average of $112.16 and a 200-day simple moving average of $122.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.68%. EOG Resources’s dividend payout ratio is presently 36.18%.

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.