EOG Resources Inc. (EOG) Upgraded to “Outperform” at Credit Agricole SA
Several other research firms have also weighed in on EOG. Citigroup Inc. reduced their price objective on EOG Resources from $104.00 to $98.00 and set a buy rating on the stock in a research note on Thursday, September 22nd. Jefferies Group reaffirmed a hold rating and issued a $88.00 price objective on shares of EOG Resources in a research note on Wednesday, October 19th. Deutsche Bank AG raised EOG Resources from a hold rating to a buy rating and raised their price objective for the company from $83.00 to $96.00 in a research note on Friday, August 5th. Guggenheim raised EOG Resources from a neutral rating to a buy rating and set a $113.00 price objective on the stock in a research note on Friday, November 11th. Finally, Wunderlich raised EOG Resources from a hold rating to a buy rating and raised their price objective for the company from $79.00 to $104.00 in a research note on Monday, August 8th. Sixteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $95.69.
Shares of EOG Resources (NYSE:EOG) traded up 0.14% during mid-day trading on Tuesday, hitting $94.70. The stock had a trading volume of 2,880,610 shares. The firm’s market capitalization is $54.59 billion. EOG Resources has a 1-year low of $57.15 and a 1-year high of $98.32. The stock’s 50-day moving average is $93.54 and its 200-day moving average is $87.04.
EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 3rd. The energy exploration company reported ($0.40) EPS for the quarter, missing the Zacks’ 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 the consensus estimate of $1.93 billion. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that EOG Resources will post ($1.79) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Monday, October 17th were given a $0.1675 dividend. This represents a $0.67 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, October 13th. EOG Resources’s dividend payout ratio is currently -29.65%.
In other news, EVP Michael P. Donaldson sold 8,473 shares of the 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 completion of the transaction, the executive vice president now owns 66,566 shares of the company’s stock, valued at approximately $6,057,506. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ann D. Janssen sold 1,310 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $94.13, for a total value of $123,310.30. Following the completion of the transaction, the vice president now directly owns 54,073 shares of the company’s stock, valued at approximately $5,089,891.49. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. Capital World Investors raised its position in EOG Resources by 17.0% in the second quarter. Capital World Investors now owns 15,441,504 shares of the energy exploration company’s stock worth $1,288,130,000 after buying an additional 2,246,141 shares during the period. TIAA CREF Investment Management LLC raised its position in EOG Resources by 23.5% in the second quarter. TIAA CREF Investment Management LLC now owns 8,283,932 shares of the energy exploration company’s stock worth $691,046,000 after buying an additional 1,578,007 shares during the period. Capital Research Global Investors raised its position in EOG Resources by 3.4% in the second quarter. Capital Research Global Investors now owns 43,151,080 shares of the energy exploration company’s stock worth $3,599,663,000 after buying an additional 1,423,493 shares during the period. Emerald Acquisition Ltd. bought a new position in EOG Resources during the second quarter worth $102,011,000. Finally, Cohen & Steers Inc. raised its position in EOG Resources by 2,261.2% in the second quarter. Cohen & Steers Inc. now owns 1,015,327 shares of the energy exploration company’s stock worth $20,439,000 after buying an additional 972,327 shares during the period. 89.70% of the stock is 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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