EOG Resources (NYSE:EOG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. JPMorgan Chase & Co. decreased their target price on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Truist Financial increased their price target on shares of EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $175.00 price target (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $158.11.

EOG Resources Stock Performance

EOG stock opened at $140.55 on Friday. The stock has a market cap of $73.72 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.52 and a beta of 0.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm has a 50 day simple moving average of $144.70 and a 200 day simple moving average of $139.51. EOG Resources has a 52 week low of $101.59 and a 52 week high of $154.16.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter last year, the business posted $2.32 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts anticipate that EOG Resources will post 16.85 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources’s payout ratio is currently 31.75%.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at $14,882,584. This represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Jupiter Topco LLC acquired a new stake in EOG Resources in the 2nd quarter valued at $138,987,000. Punch & Associates Investment Management Inc. bought a new stake in EOG Resources in the second quarter valued at $11,746,000. Parvin Asset Management LLC acquired a new position in EOG Resources during the second quarter worth $1,743,000. Transamerica Financial Advisors LLC acquired a new position in EOG Resources during the second quarter worth $1,051,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of EOG Resources by 8.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company’s stock valued at $32,541,000 after acquiring an additional 24,960 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.