EOG Resources (NYSE:EOG) Now Covered by Analysts at Stephens

Stephens started coverage on shares of EOG Resources (NYSE:EOG) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $137.00 price objective on the energy exploration company’s stock.

A number of other research analysts also recently issued reports on EOG. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Susquehanna reduced their price objective on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Citigroup decreased their price objective on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.95.

EOG Resources Stock Up 1.2%

Shares of NYSE EOG opened at $124.64 on Tuesday. The stock has a market cap of $68.03 billion, a P/E ratio of 11.56, a PEG ratio of 10.10 and a beta of 0.74. The business’s fifty day simple moving average is $112.57 and its 200-day simple moving average is $121.70. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 EPS. As a group, equities analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources’s dividend payout ratio is presently 36.18%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of EOG Resources

Several hedge funds and other institutional investors have recently made changes to their positions in EOG. Vanguard Group Inc. lifted its position in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock valued at $6,922,633,000 after purchasing an additional 348,895 shares during the period. Capital World Investors raised its stake in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock valued at $2,485,402,000 after buying an additional 1,188,552 shares during the period. Geode Capital Management LLC boosted its stake in shares of EOG Resources by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after buying an additional 234,067 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in EOG Resources by 6.3% during the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock worth $779,433,000 after acquiring an additional 358,916 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

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.