EOG Resources (NYSE:EOG) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research note issued to investors on Monday.

Several other equities research analysts also recently commented on EOG. Morgan Stanley lifted their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Scotiabank downgraded shares of EOG Resources from a sector outperform rating to a sector perform rating and lifted their price objective for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. Royal Bank of Canada reiterated a sector perform rating and set a $145.00 price objective on shares of EOG Resources in a research note on Tuesday, April 9th. Piper Sandler boosted their target price on shares of EOG Resources from $141.00 to $153.00 and gave the company an overweight rating in a research report on Friday, April 19th. Finally, Barclays initiated coverage on shares of EOG Resources in a research report on Wednesday, April 10th. They set an equal weight rating and a $144.00 target price for the company. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of Moderate Buy and an average target price of $142.19.

EOG Resources Trading Down 0.2 %

NYSE:EOG opened at $135.40 on Monday. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The firm has a 50 day moving average of $125.26 and a 200 day moving average of $122.45. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $77.88 billion, a price-to-earnings ratio of 10.41 and a beta of 1.40.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the previous year, the firm posted $3.30 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that EOG Resources will post 12.29 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.69%. EOG Resources’s dividend payout ratio is currently 27.98%.

Institutional Trading of EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of EOG Resources during the third quarter worth about $4,431,000. TIAA Trust National Association boosted its holdings in EOG Resources by 639.3% in the 4th quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock valued at $6,971,000 after purchasing an additional 49,840 shares during the last quarter. AIA Group Ltd boosted its holdings in EOG Resources by 128.0% in the 4th quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock valued at $1,234,000 after purchasing an additional 5,728 shares during the last quarter. L. Roy Papp & Associates LLP boosted its holdings in EOG Resources by 18.3% in the 4th quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock valued at $20,362,000 after purchasing an additional 26,026 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its holdings in EOG Resources by 9.3% in the 4th quarter. NewEdge Wealth LLC now owns 115,960 shares of the energy exploration company’s stock valued at $14,025,000 after purchasing an additional 9,837 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.