Investors Buy Shares of EOG Resources Inc. (EOG) on Weakness After Insider Selling
Investors purchased shares of EOG Resources Inc. (NYSE:EOG) on weakness during trading hours on Thursday following insider selling activity. $120.45 million flowed into the stock on the tick-up and $85.17 million flowed out of the stock on the tick-down, for a money net flow of $35.28 million into the stock. Of all companies tracked, EOG Resources had the 6th highest net in-flow for the day. EOG Resources traded down ($2.88) for the day and closed at $92.34Specifically, Director Charles R. Crisp sold 14,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $92.69, for a total transaction of $1,297,660.00. Following the completion of the sale, the director now owns 57,586 shares of the company’s stock, valued at $5,337,646.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael P. Donaldson sold 4,464 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $93.00, for a total transaction of $415,152.00. Following the sale, the executive vice president now directly owns 68,683 shares of the company’s stock, valued at approximately $6,387,519. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
EOG has been the topic of a number of recent research reports. Bank of America Corp. set a $100.00 price target on shares of EOG Resources and gave the stock a “hold” rating in a research report on Friday, August 5th. Credit Suisse Group AG restated a “hold” rating and set a $90.00 price target on shares of EOG Resources in a research report on Tuesday, August 9th. Barclays PLC lowered their price target on shares of EOG Resources from $104.00 to $84.00 and set an “overweight” rating on the stock in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of EOG Resources from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, July 25th. Finally, Deutsche Bank AG upgraded shares of EOG Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $96.00 in a research report on Friday, August 5th. Sixteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $95.69.
The company has a 50 day moving average of $93.88 and a 200-day moving average of $87.38. The stock’s market capitalization is $51.29 billion.
EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 3rd. The energy exploration company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.09. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.93 billion. EOG Resources had a negative net margin of 17.58% and a negative return on equity of 8.42%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS. On average, equities analysts expect that EOG Resources Inc. will post ($1.77) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Monday, October 17th were paid a dividend of $0.1675 per share. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.72%. EOG Resources’s dividend payout ratio is currently -29.65%.
Hedge funds have recently bought and sold shares of the stock. Baker Ellis Asset Management LLC purchased a new stake in EOG Resources during the third quarter worth about $101,000. ClariVest Asset Management LLC bought a new stake in shares of EOG Resources during the third quarter worth about $103,000. FTB Advisors Inc. raised its stake in shares of EOG Resources by 98.3% in the third quarter. FTB Advisors Inc. now owns 1,152 shares of the energy exploration company’s stock worth $110,000 after buying an additional 571 shares during the period. Assetmark Inc. raised its stake in shares of EOG Resources by 4.4% in the third quarter. Assetmark Inc. now owns 1,175 shares of the energy exploration company’s stock worth $114,000 after buying an additional 50 shares during the period. Finally, Tortoise Investment Management LLC bought a new stake in shares of EOG Resources during the second quarter worth about $100,000. Institutional investors own 89.70% 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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