EOG Resources, Inc. (NYSE:EOG) Short Interest Update

EOG Resources, Inc. (NYSE:EOG) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 11,900,000 shares, a growth of 24.5% from the August 15th total of 9,560,000 shares. Based on an average trading volume of 2,820,000 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EOG shares. Piper Sandler lowered their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. UBS Group increased their target price on EOG Resources from $166.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wolfe Research started coverage on EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial cut their price target on EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources has an average rating of “Hold” and an average price target of $143.58.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $121.67 on Tuesday. The stock has a market cap of $69.93 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. The business has a fifty day simple moving average of $125.85 and a 200-day simple moving average of $126.39. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that EOG Resources will post 12.2 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business 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 $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.99%. EOG Resources’s dividend payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $2,751,612 over the last three months. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in EOG. MUFG Securities EMEA plc bought a new position in shares of EOG Resources in the fourth quarter worth about $5,443,000. Dai ichi Life Insurance Company Ltd increased its stake in shares of EOG Resources by 15.3% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 46,468 shares of the energy exploration company’s stock worth $5,620,000 after purchasing an additional 6,154 shares during the period. Artisan Partners Limited Partnership increased its stake in EOG Resources by 2.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 991,055 shares of the energy exploration company’s stock valued at $119,868,000 after acquiring an additional 22,638 shares during the period. DRW Securities LLC increased its stake in EOG Resources by 871.7% during the fourth quarter. DRW Securities LLC now owns 20,891 shares of the energy exploration company’s stock valued at $2,527,000 after acquiring an additional 18,741 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in EOG Resources by 228.4% during the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock valued at $1,998,000 after acquiring an additional 10,868 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.