EOG Resources (NYSE:EOG) Cut to Hold at StockNews.com

StockNews.com downgraded shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a research note released on Monday morning.

Other equities analysts also recently issued research reports about the stock. Scotiabank decreased their price objective on shares of EOG Resources from $155.00 to $150.00 and set a sector perform rating for the company in a report on Friday, July 12th. Piper Sandler lowered their price objective on shares of EOG Resources from $154.00 to $147.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reissued a sector perform rating and issued a $147.00 target price on shares of EOG Resources in a report on Wednesday, July 10th. UBS Group increased their price target on EOG Resources from $166.00 to $167.00 and gave the stock a buy rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley reduced their price objective on EOG Resources from $134.00 to $132.00 and set an equal weight rating for the company in a research report on Monday. Fourteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources has a consensus rating of Hold and a consensus target price of $142.89.

EOG Resources Price Performance

Shares of EOG stock opened at $125.20 on Monday. The firm has a fifty day moving average of $125.70 and a two-hundred day moving average of $126.42. The firm has a market cap of $71.95 billion, a P/E ratio of 9.89, a P/E/G ratio of 2.95 and a beta of 1.28. 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 0.11, a current ratio of 2.12 and a quick ratio of 1.89.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data 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. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period in the previous year, the company earned $2.49 earnings per share. EOG Resources’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts anticipate that EOG Resources will post 12.2 earnings per share 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. Stockholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of EOG Resources in the second quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources in the 2nd quarter worth approximately $28,000. Gladius Capital Management LP acquired a new position in EOG Resources in the 2nd quarter worth approximately $30,000. Sachetta LLC purchased a new position in EOG Resources during the 4th quarter worth approximately $33,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of EOG Resources in the second quarter valued at $35,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.