EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of EOG Resources, Inc. (NYSE:EOG) have received an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $145.33.

A number of analysts have commented on the company. Piper Sandler lowered their price target on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Truist Financial boosted their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Morgan Stanley decreased their price objective on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, UBS Group decreased their price objective on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, March 4th.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. DRW Securities LLC lifted its stake in EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after purchasing an additional 13,324 shares in the last quarter. World Investment Advisors LLC acquired a new position in EOG Resources during the third quarter worth $730,000. Mountain Lake Investment Management LLC acquired a new position in EOG Resources during the fourth quarter worth $735,000. Oak Ridge Investments LLC lifted its stake in EOG Resources by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Finally, Tobam acquired a new position in EOG Resources during the fourth quarter worth $352,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG opened at $124.91 on Friday. The stock has a 50-day moving average of $129.11 and a two-hundred day moving average of $127.45. EOG Resources has a one year low of $115.78 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market cap of $69.19 billion, a P/E ratio of 10.06, a P/E/G ratio of 3.58 and a beta of 1.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. As a group, research analysts predict that EOG Resources will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

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.