EOG Resources (NYSE:EOG) Stock Rating Lowered by StockNews.com

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

EOG has been the subject of several other reports. Piper Sandler dropped their target price on shares of EOG Resources from $154.00 to $147.00 and set an overweight rating for the company in a report on Thursday, August 15th. Truist Financial cut their price objective on EOG Resources from $136.00 to $130.00 and set a hold rating for the company in a research report on Monday, July 22nd. Wolfe Research started coverage on EOG Resources in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Bank of America reissued a buy rating and set a $151.00 price target on shares of EOG Resources in a research report on Friday, June 14th. Finally, UBS Group upped their price objective on EOG Resources from $166.00 to $167.00 and gave the company a buy rating in a research report on Tuesday, August 20th. Fourteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources has an average rating of Hold and an average price target of $142.89.

EOG Resources Price Performance

EOG stock opened at $125.20 on Monday. The firm has a 50 day moving average of $125.70 and a 200-day moving average of $126.42. The company has a market cap of $71.95 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 2.95 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. EOG Resources’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 earnings per share. As a group, equities analysts expect that EOG Resources will post 12.2 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wright Investors Service Inc. lifted its position in shares of EOG Resources by 0.8% during the first quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock worth $1,299,000 after purchasing an additional 80 shares in the last quarter. CVA Family Office LLC lifted its holdings in EOG Resources by 11.0% in the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after buying an additional 81 shares in the last quarter. Bailard Inc. grew its stake in shares of EOG Resources by 0.4% during the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after acquiring an additional 81 shares in the last quarter. Field & Main Bank increased its position in shares of EOG Resources by 1.4% during the first quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock worth $788,000 after acquiring an additional 83 shares during the last quarter. Finally, PDS Planning Inc increased its position in shares of EOG Resources by 4.1% during the first quarter. PDS Planning Inc now owns 2,152 shares of the energy exploration company’s stock worth $275,000 after acquiring an additional 84 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.