EOG Resources (NYSE:EOG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also recently issued reports on EOG. Mizuho set a $157.00 target price on EOG Resources and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Morgan Stanley reduced their price target on EOG Resources from $160.00 to $156.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Truist Financial lowered their price objective on EOG Resources from $149.00 to $134.00 and set a “hold” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, Wolfe Research lifted their target price on shares of EOG Resources from $152.00 to $154.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.32.

EOG Resources Price Performance

EOG stock opened at $148.54 on Friday. EOG Resources has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock has a market cap of $79.12 billion, a price-to-earnings ratio of 14.62 and a beta of 0.25. The company has a 50 day simple moving average of $136.95 and a 200 day simple moving average of $131.27.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the firm posted $2.87 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts anticipate that EOG Resources will post 16.16 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, July 17th. EOG Resources’s payout ratio is currently 40.16%.

Institutional Trading of EOG Resources

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in EOG Resources by 898.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock worth $205,411,000 after purchasing an additional 1,278,555 shares during the period. Franklin Resources Inc. grew its stake in shares of EOG Resources by 24.2% in the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after buying an additional 1,257,110 shares during the period. First Trust Advisors LP increased its position in EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock valued at $312,711,000 after buying an additional 1,231,366 shares in the last quarter. Marshall Wace LLP raised its position in shares of EOG Resources by 474.7% during the fourth quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock worth $138,430,000 after purchasing an additional 1,088,867 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of EOG Resources by 23.9% in the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after buying an additional 901,897 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.