EOG Resources Inc (NYSE:EOG) Sees Significant Decrease in Short Interest

EOG Resources Inc (NYSE:EOG) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 10,720,000 shares, a drop of 16.8% from the January 15th total of 12,880,000 shares. Based on an average daily volume of 4,060,000 shares, the short-interest ratio is currently 2.6 days. Currently, 1.9% of the shares of the stock are short sold.

In other EOG Resources news, Director Charles R. Crisp sold 420 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $86.49, for a total value of $36,325.80. Following the transaction, the director now owns 50,296 shares in the company, valued at approximately $4,350,101.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in EOG Resources by 3.5% in the 2nd quarter. BlackRock Inc. now owns 35,712,596 shares of the energy exploration company’s stock valued at $3,326,986,000 after buying an additional 1,201,811 shares during the period. State Street Corp raised its holdings in EOG Resources by 3.7% in the 4th quarter. State Street Corp now owns 28,201,688 shares of the energy exploration company’s stock valued at $2,362,173,000 after buying an additional 1,006,145 shares during the period. Bank of New York Mellon Corp raised its holdings in EOG Resources by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 16,632,557 shares of the energy exploration company’s stock valued at $1,393,143,000 after buying an additional 572,868 shares during the period. FMR LLC raised its holdings in EOG Resources by 1.2% in the 4th quarter. FMR LLC now owns 10,043,802 shares of the energy exploration company’s stock valued at $840,942,000 after buying an additional 118,842 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in EOG Resources by 14.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,082,996 shares of the energy exploration company’s stock valued at $760,791,000 after buying an additional 1,155,620 shares during the period. Hedge funds and other institutional investors own 85.70% of the company’s stock.

A number of research analysts have weighed in on the company. Bank of America upgraded EOG Resources from a “neutral” rating to a “buy” rating in a report on Monday, January 6th. Barclays reduced their price target on EOG Resources from $132.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Raymond James lifted their price target on EOG Resources from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup reduced their price target on EOG Resources from $93.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Morgan Stanley reiterated a “hold” rating and set a $97.00 price target on shares of EOG Resources in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $103.89.

Shares of NYSE EOG traded down $0.76 during trading on Friday, hitting $74.92. 2,067,801 shares of the company were exchanged, compared to its average volume of 3,741,330. EOG Resources has a 12-month low of $64.33 and a 12-month high of $107.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.08. The company has a fifty day moving average price of $81.07 and a 200-day moving average price of $76.51. The firm has a market capitalization of $43.85 billion, a PE ratio of 14.52, a P/E/G ratio of 1.34 and a beta of 1.45.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $0.2875 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.15 annualized dividend and a yield of 1.53%. EOG Resources’s dividend payout ratio (DPR) is currently 20.76%.

About EOG Resources

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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