EOG Resources (NYSE:EOG) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report sent to investors on Monday.

EOG has been the topic of several other research reports. KeyCorp initiated coverage on shares of EOG Resources in a report on Thursday, June 27th. They issued an overweight rating and a $157.00 price target on the stock. Truist Financial reduced their target price on EOG Resources from $136.00 to $130.00 and set a hold rating on the stock in a research note on Monday, July 22nd. Morgan Stanley raised their price target on EOG Resources from $132.00 to $133.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Bank of America restated a buy rating and issued a $151.00 price objective on shares of EOG Resources in a research report on Friday, June 14th. Finally, Barclays assumed coverage on shares of EOG Resources in a research note on Wednesday, April 10th. They issued an equal weight rating and a $144.00 target price for the company. Fourteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $144.45.

EOG Resources Stock Performance

NYSE EOG opened at $126.79 on Monday. The business has a 50 day moving average price of $124.61 and a 200 day moving average price of $123.97. The company has a market capitalization of $72.87 billion, a P/E ratio of 10.02, a PEG ratio of 2.15 and a beta of 1.30. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.65% and a net margin of 30.33%. EOG Resources’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.49 earnings per share. Sell-side analysts expect that EOG Resources will post 12.13 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the sale, the chief executive officer now owns 150,474 shares in the company, valued at approximately $19,457,792.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the completion of the sale, the executive vice president now directly owns 109,040 shares in the company, valued at approximately $14,206,821.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ezra Y. Yacob sold 4,729 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at $19,457,792.94. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently modified their holdings of the stock. Pinion Investment Advisors LLC boosted its holdings in EOG Resources by 8.1% in the 2nd quarter. Pinion Investment Advisors LLC now owns 4,280 shares of the energy exploration company’s stock worth $539,000 after acquiring an additional 319 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of EOG Resources by 4.3% in the second quarter. Envestnet Asset Management Inc. now owns 2,093,902 shares of the energy exploration company’s stock valued at $263,559,000 after purchasing an additional 85,530 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in EOG Resources by 29.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 77,520 shares of the energy exploration company’s stock valued at $9,757,000 after purchasing an additional 17,809 shares in the last quarter. Parallel Advisors LLC increased its stake in EOG Resources by 3.3% during the 2nd quarter. Parallel Advisors LLC now owns 5,888 shares of the energy exploration company’s stock worth $741,000 after buying an additional 186 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in EOG Resources in the 2nd quarter worth $1,187,000. Institutional investors and hedge funds 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.