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

EOG Resources, Inc. (NYSE:EOG)’s share price reached a new 52-week high on Monday after Citigroup raised their price target on the stock from $115.00 to $150.00. Citigroup currently has a neutral rating on the stock. EOG Resources traded as high as $150.50 and last traded at $151.1990, with a volume of 13335 shares changing hands. The stock had previously closed at $149.56.

A number of other research analysts have also recently commented on EOG. Piper Sandler raised their target price on EOG Resources from $127.00 to $144.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Zacks Research raised EOG Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. KeyCorp downgraded EOG Resources from an “overweight” rating to a “sector weight” rating in a report on Friday, January 16th. Johnson Rice dropped their target price on shares of EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, December 5th. Finally, UBS Group boosted their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $140.81.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $130.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief operating officer owned 88,045 shares of the company’s stock, valued at $11,445,850. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares of the company’s stock, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,532 shares of company stock worth $1,877,405 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of EOG Resources

Several institutional investors have recently bought and sold shares of EOG. Acumen Wealth Advisors LLC purchased a new position in EOG Resources in the fourth quarter worth about $25,000. Prosperity Bancshares Inc bought a new position in shares of EOG Resources in the fourth quarter worth approximately $26,000. Nemes Rush Group LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $30,000. Gen Wealth Partners Inc purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $30,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of EOG Resources during the third quarter valued at approximately $32,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

The company has a market capitalization of $80.48 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 3.48 and a beta of 0.44. The business’s fifty day moving average is $124.23 and its two-hundred day moving average is $114.03. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27.

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

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 16th. EOG Resources’s dividend payout ratio is presently 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.