EOG Resources (NYSE:EOG) Sets New 1-Year High on Analyst Upgrade

EOG Resources, Inc. (NYSE:EOG) reached a new 52-week high during mid-day trading on Monday after Wolfe Research raised their price target on the stock from $140.00 to $152.00. The stock traded as high as $134.00 and last traded at $132.57, with a volume of 1207474 shares. The stock had previously closed at $131.41.

Several other analysts have also commented on EOG. Jefferies Financial Group lifted their price objective on shares of EOG Resources from $140.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. raised their price target on shares of EOG Resources from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Scotiabank set a $123.00 price objective on EOG Resources and gave the company a “sector perform” rating in a research note on Friday, January 16th. UBS Group increased their price objective on EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Roth Mkm restated a “neutral” rating and issued a $110.00 target price on shares of EOG Resources in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $135.77.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer directly owned 61,481 shares in the company, valued at approximately $7,685,125. The trade was a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 7,774 shares of company stock valued at $945,895. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources during the 4th quarter worth about $25,000. Prosperity Bancshares Inc purchased a new position in EOG Resources during the 4th quarter valued at about $26,000. Nemes Rush Group LLC bought a new stake in shares of EOG Resources during the fourth quarter valued at about $30,000. Gen Wealth Partners Inc bought a new stake in shares of EOG Resources during the fourth quarter valued at about $30,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of EOG Resources in the third quarter worth about $32,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

The business’s fifty day moving average price is $114.32 and its 200-day moving average price is $112.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42. The stock has a market capitalization of $70.54 billion, a PE ratio of 14.43 and a beta of 0.44.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm posted $2.74 EPS. EOG Resources’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 44.79%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.