EOG Resources (NYSE:EOG) sets new 12-month high for analyst upgrade
Shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) hit a new 52-week high during trading on Tuesday after Royal Bank of Canada raised its price target on the stock from 125, $00 to $140.00. Royal Bank of Canada currently has an outperform rating for the stock. EOG Resources traded as high as $121.78 and last traded at $120.15, with a volume of 5,514,399 shares changing hands. The stock had previously closed at $118.75.
Other equity research analysts have also released reports on the stock. Wells Fargo & Company raised its price target on EOG Resources shares from $97.00 to $109.00 and gave the company an “overweight” rating in a Friday, November 19 report. The benchmark downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a Wednesday, March 2 research note. They noted that the move was a review call. MKM Partners raised its price target on EOG Resources shares from $114.00 to $127.00 in a Monday, February 28 research note. KeyCorp raised its price target on EOG Resources shares from $118.00 to $126.00 and gave the stock an “overweight” rating in a Thursday, March 3 research note. Finally, Mizuho cut its price target on EOG Resources shares from $127.00 to $124.00 in a research note on Monday, January 3. Six analysts gave the stock a hold rating and twenty gave the company a buy rating. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Buy” and an average target price of $111.52.
Separately, Chief Financial Officer Timothy K. Driggers sold 3,925 shares of the company in a trade that took place on Thursday, January 6. The shares were sold at an average price of $95.79, for a total transaction of $375,975.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Michael P. Donaldson sold 11,327 shares of the company in a trade that took place on Thursday, March 3. The stock was sold at an average price of $117.15, for a total transaction of $1,326,958.05. The disclosure of this sale can be found here. Insiders own 0.40% of the shares of the company.
Hedge funds have recently changed their stock holdings. Allspring Global Investments Holdings LLC acquired a new stake in EOG Resources during the fourth quarter for a value of approximately $280,032,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in EOG Resources by 691.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,110,373 shares of the energy exploration company worth $277,383,000 after purchasing an additional 2,717,393 shares during the period. Boston Partners increased its stake in EOG Resources by 118.7% during the third quarter. Boston Partners now owns 4,954,384 shares of the energy exploration company worth $398,059,000 after purchasing an additional 2,689,109 shares during the period. 1832 Asset Management LP increased its stake in EOG Resources by 3,637.0% during the second quarter. 1832 Asset Management LP now owns 2,449,579 shares of the energy exploration company worth $200,979,000 after purchasing an additional 2,384,030 shares during the period. Finally, BlackRock Inc. increased its stake in EOG Resources shares by 4.9% in the fourth quarter. BlackRock Inc. now owns 46,118,313 shares of the energy exploration company valued at $4,096,689,000 after purchasing an additional 2,140,573 shares during the period. 86.69% of the shares are held by hedge funds and other institutional investors.
The company has a market capitalization of $70.30 billion, a PE ratio of 15.06, a P/E/G ratio of 0.43 and a beta of 1.79. The company’s 50-day moving average price is $106.87 and its two-hundred-day moving average price is $91.95. The company has a quick ratio of 1.98, a current ratio of 2.12 and a leverage ratio of 0.23.
EOG Resources (NYSE:EOG – Get Rating) last announced its results on Thursday, February 24. The energy exploration company reported earnings per share of $3.09 for the quarter, missing the consensus estimate of $3.21 per ($0.12). The company posted revenue of $6.04 billion in the quarter, compared to $5.56 billion expected by analysts. EOG Resources posted a net margin of 25.02% and a return on equity of 23.50%. EOG Resources revenue for the quarter increased 103.8% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $0.71. On average, sell-side analysts expect EOG Resources, Inc. to post earnings per share of 11.81 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 29. Investors of record on Friday, April 15 will receive a dividend of $0.75. The ex-dividend date is Wednesday, April 13. This represents an annualized dividend of $3.00 and a yield of 2.50%. EOG Resources’ dividend payout ratio is currently 37.59%.
EOG Resources Company Profile (NYSE: EOG)
EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad and Tobago and Other International segments. The company was founded in 1985 and is based in Houston, TX.
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