Investors Buy Large Volume of EOG Resources Call Options (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) saw some unusual options trading on Wednesday. Investors bought 67,126 call options on the company. This is an increase of 918% compared to the typical volume of 6,596 call options.

Several hedge funds have recently modified their holdings of EOG. Beacon Financial Group purchased a new position in EOG Resources during the 3rd quarter worth $629,000. Koshinski Asset Management Inc. purchased a new position in EOG Resources during the 3rd quarter worth $96,000. Renasant Bank increased its holdings in EOG Resources by 4.0% during the 3rd quarter. Renasant Bank now owns 4,205 shares of the energy exploration company’s stock worth $337,000 after purchasing an additional 161 shares during the period. Pinnacle Bancorp Inc. increased its holdings in EOG Resources by 9.3% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,395 shares of the energy exploration company’s stock worth $112,000 after purchasing an additional 119 shares during the period. Finally, Iowa State Bank increased its holdings in EOG Resources by 3.6% during the 3rd quarter. Iowa State Bank now owns 15,971 shares of the energy exploration company’s stock worth $1,282,000 after purchasing an additional 556 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on EOG. Piper Sandler increased their price target on EOG Resources from $97.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, July 22nd. Morgan Stanley increased their price target on EOG Resources from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 6th. Tudor Pickering raised EOG Resources from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, September 13th. Sanford C. Bernstein increased their price target on EOG Resources from $92.00 to $114.00 and gave the company an “outperform” rating in a research note on Monday, June 21st. Finally, Truist Financial lowered EOG Resources to a “hold” rating in a research note on Monday, August 30th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $91.57.

Shares of EOG stock opened at $90.41 on Thursday. EOG Resources has a 52-week low of $31.22 and a 52-week high of $93.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.60 and a current ratio of 1.73. The firm has a market capitalization of $52.79 billion, a P/E ratio of 28.08, a P/E/G ratio of 0.78 and a beta of 2.17. The stock has a 50 day moving average price of $73.67 and a 200 day moving average price of $76.70.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Wednesday, August 4th. The energy exploration company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.19. EOG Resources had a return on equity of 12.77% and a net margin of 14.40%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned ($0.23) EPS. EOG Resources’s quarterly revenue was up 275.2% compared to the same quarter last year. As a group, sell-side analysts forecast that EOG Resources will post 7.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, October 14th. EOG Resources’s dividend payout ratio is currently 113.01%.

About EOG Resources

EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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