EOG Resources Inc. (EOG) Downgraded to “Hold” at Societe Generale
EOG Resources Inc. (NYSE:EOG) was downgraded by equities researchers at Societe Generale from a “buy” rating to a “hold” rating in a research note issued on Monday.
EOG has been the topic of a number of other reports. FBR & Co started coverage on shares of EOG Resources in a report on Tuesday, September 13th. They set an “outperform” rating and a $108.00 target price on the stock. Barclays PLC upped their price objective on shares of EOG Resources from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, September 1st. Simmons reaffirmed an “overweight” rating and issued a $109.00 price objective (up from $103.00) on shares of EOG Resources in a research note on Friday, September 9th. Credit Agricole SA upped their price objective on shares of EOG Resources from $93.00 to $98.00 and gave the company an “underperform” rating in a research note on Wednesday, September 7th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $98.00 price objective (up from $95.00) on shares of EOG Resources in a research note on Wednesday, September 7th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $91.96.
EOG Resources (NYSE:EOG) opened at 96.71 on Monday. EOG Resources has a 52-week low of $57.15 and a 52-week high of $97.20. The company has a 50-day moving average of $91.35 and a 200-day moving average of $83.17. The company’s market cap is $53.25 billion.
EOG Resources (NYSE:EOG) last posted its earnings results on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.10. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 28.1% compared to the same quarter last year. On average, equities research analysts expect that EOG Resources will post ($1.67) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a $0.1675 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.69%. EOG Resources’s dividend payout ratio (DPR) is currently -7.14%.
In other news, CFO Timothy K. Driggers sold 8,763 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $93.44, for a total value of $818,814.72. Following the completion of the transaction, the chief financial officer now directly owns 184,402 shares in the company, valued at $17,230,522.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ann D. Janssen sold 1,310 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $94.13, for a total transaction of $123,310.30. Following the completion of the transaction, the vice president now owns 54,073 shares of the company’s stock, valued at $5,089,891.49. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC bought a new stake in shares of EOG Resources during the second quarter worth $100,000. Lenox Wealth Management Inc. increased its stake in shares of EOG Resources by 53.6% in the second quarter. Lenox Wealth Management Inc. now owns 1,465 shares of the energy exploration company’s stock worth $122,000 after buying an additional 511 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its stake in shares of EOG Resources by 819.1% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,489 shares of the energy exploration company’s stock worth $124,000 after buying an additional 1,327 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in shares of EOG Resources by 2.3% in the second quarter. Citizens Financial Group Inc RI now owns 1,680 shares of the energy exploration company’s stock worth $140,000 after buying an additional 38 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of EOG Resources during the second quarter worth $160,000. Institutional investors own 89.44% of the company’s stock.
EOG Resources Company Profile
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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