Vetr Inc. Upgrades EOG Resources Inc. (EOG) to “Strong-Buy”
EOG Resources Inc. (NYSE:EOG) was upgraded by research analysts at Vetr from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm presently has a $110.50 price target on the energy exploration company’s stock. Vetr‘s target price would indicate a potential upside of 20.88% from the stock’s current price.
Other research analysts have also issued research reports about the company. Barclays PLC reiterated an “overweight” rating on shares of EOG Resources in a research report on Friday, September 30th. FBR & Co started coverage on EOG Resources in a research report on Tuesday, September 13th. They set an “outperform” rating and a $108.00 target price on the stock. Wunderlich increased their target price on EOG Resources from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, October 7th. Credit Agricole SA increased their target price on EOG Resources from $93.00 to $98.00 and gave the company an “underperform” rating in a research report on Wednesday, September 7th. Finally, Simmons reiterated an “overweight” rating and set a $109.00 target price (up previously from $103.00) on shares of EOG Resources in a research report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. EOG Resources has an average rating of “Hold” and an average price target of $95.69.
Shares of EOG Resources (NYSE:EOG) opened at 91.41 on Monday. EOG Resources has a 12 month low of $57.15 and a 12 month high of $98.32. The company has a 50-day moving average of $93.54 and a 200 day moving average of $87.04. The company’s market cap is $52.69 billion.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 3rd. The energy exploration company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.09. EOG Resources had a negative return on equity of 8.42% and a negative net margin of 17.58%. The company earned $2.12 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the company posted $0.02 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that EOG Resources will post ($1.72) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 17th were paid a dividend of $0.1675 per share. This represents a $0.67 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, October 13th. EOG Resources’s payout ratio is -29.65%.
In other EOG Resources news, EVP Michael P. Donaldson sold 4,464 shares of EOG Resources stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $93.00, for a total transaction of $415,152.00. Following the transaction, the executive vice president now owns 68,683 shares of the company’s stock, valued at $6,387,519. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael P. Donaldson sold 8,473 shares of EOG Resources stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $91.00, for a total value of $771,043.00. Following the transaction, the executive vice president now directly owns 66,566 shares in the company, valued at approximately $6,057,506. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC purchased a new position in EOG Resources during the second quarter valued at approximately $100,000. Baker Ellis Asset Management LLC purchased a new position in EOG Resources during the third quarter valued at approximately $101,000. ClariVest Asset Management LLC purchased a new position in EOG Resources during the third quarter valued at approximately $103,000. FTB Advisors Inc. raised its position in EOG Resources by 98.3% in the third quarter. FTB Advisors Inc. now owns 1,152 shares of the energy exploration company’s stock valued at $110,000 after buying an additional 571 shares during the period. Finally, Assetmark Inc. raised its position in EOG Resources by 4.4% in the third quarter. Assetmark Inc. now owns 1,175 shares of the energy exploration company’s stock valued at $114,000 after buying an additional 50 shares during the period. 89.48% of the stock is currently owned by institutional investors.
About EOG Resources
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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