EOG Resources (NYSE:EOG) Hits New 1-Year High – Here’s Why

Shares of EOG Resources, Inc. (NYSE:EOG) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $165.11 and last traded at $162.78, with a volume of 3,228,129 shares trading hands. The stock had previously closed at $163.03.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank initiated coverage on shares of EOG Resources in a research note on Wednesday, October 14th. They issued a “sector perform” rating and a $144.00 price target on the stock. Wells Fargo & Company restated an “overweight” rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Mizuho set a $165.00 target price on shares of EOG Resources in a research note on Thursday, October 15th. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, Capital One Financial downgraded shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price for the company. in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $161.24.

EOG Resources Price Performance

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 business’s 50 day simple moving average is $147.62 and its 200-day simple moving average is $140.79. The stock has a market capitalization of $86.27 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 earnings per share. Research analysts anticipate that EOG Resources, Inc. will post 17.70 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio is currently 31.75%.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ezra Y. Yacob sold 35,942 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 52,317 shares of company stock worth $7,823,480. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the stock. Peterson Wealth Services increased its position in shares of EOG Resources by 30.1% in the 3rd quarter. Peterson Wealth Services now owns 2,215 shares of the energy exploration company’s stock valued at $305,000 after buying an additional 512 shares in the last quarter. Leo Wealth LLC acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $651,000. Sigma Planning Corp boosted its holdings in shares of EOG Resources by 331.4% in the 3rd quarter. Sigma Planning Corp now owns 7,644 shares of the energy exploration company’s stock valued at $1,052,000 after purchasing an additional 5,872 shares in the last quarter. Paladin Wealth LLC lifted its stake in shares of EOG Resources by 53.2% in the 3rd quarter. Paladin Wealth LLC now owns 2,440 shares of the energy exploration company’s stock valued at $336,000 after acquiring an additional 847 shares during the last quarter. Finally, Signaturefd LLC increased its position in EOG Resources by 10.0% in the 3rd quarter. Signaturefd LLC now owns 8,397 shares of the energy exploration company’s stock valued at $1,157,000 after acquiring an additional 766 shares during the period. 89.91% of the stock is owned by institutional investors.

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. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.