EOG Resources Inc (EOG) Receives Average Rating of “Buy” from Brokerages

EOG Resources Inc (NYSE:EOG) has earned a consensus rating of “Buy” from the thirty brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $120.54.

A number of analysts have recently issued reports on EOG shares. Raymond James set a $124.00 price objective on shares of EOG Resources and gave the stock a “buy” rating in a report on Wednesday, January 23rd. ValuEngine downgraded shares of EOG Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Goldman Sachs Group downgraded shares of EOG Resources to a “buy” rating in a report on Friday, April 12th. Morgan Stanley set a $106.00 price objective on shares of EOG Resources and gave the stock a “hold” rating in a report on Tuesday, January 29th. Finally, Oppenheimer started coverage on shares of EOG Resources in a report on Wednesday, March 27th. They set an “outperform” rating and a $108.00 price objective for the company.

In other EOG Resources news, Director Frank G. Wisner sold 1,296 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total value of $113,114.88. Following the completion of the sale, the director now directly owns 120,052 shares of the company’s stock, valued at $10,478,138.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in shares of EOG Resources by 1.8% in the third quarter. Legal & General Group Plc now owns 2,566,005 shares of the energy exploration company’s stock valued at $327,345,000 after acquiring an additional 45,701 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of EOG Resources in the third quarter valued at about $573,000. Marshall Wace LLP purchased a new position in shares of EOG Resources in the third quarter valued at about $2,395,000. Marshall Wace North America L.P. increased its position in shares of EOG Resources by 889.4% in the third quarter. Marshall Wace North America L.P. now owns 44,523 shares of the energy exploration company’s stock valued at $5,679,000 after acquiring an additional 40,023 shares during the period. Finally, Federated Investors Inc. PA increased its position in shares of EOG Resources by 70.0% in the third quarter. Federated Investors Inc. PA now owns 228,096 shares of the energy exploration company’s stock valued at $29,098,000 after acquiring an additional 93,885 shares during the period. 88.52% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE EOG traded up $0.76 during mid-day trading on Friday, reaching $95.00. 2,425,600 shares of the company were exchanged, compared to its average volume of 4,051,991. EOG Resources has a 52 week low of $82.04 and a 52 week high of $133.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.94 and a current ratio of 1.14. The company has a market capitalization of $53.74 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.20 and a beta of 1.24.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, May 2nd. The energy exploration company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. EOG Resources had a net margin of 19.35% and a return on equity of 17.10%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts forecast that EOG Resources will post 5.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.22. This represents a $1.15 annualized dividend and a yield of 1.21%. EOG Resources’s payout ratio is currently 15.88%.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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