Investors Buy Shares of EOG Resources (EOG) on Weakness

Investors purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading hours on Wednesday. $129.92 million flowed into the stock on the tick-up and $90.80 million flowed out of the stock on the tick-down, for a money net flow of $39.12 million into the stock. Of all equities tracked, EOG Resources had the 28th highest net in-flow for the day. EOG Resources traded down ($0.78) for the day and closed at $122.98

EOG has been the topic of a number of research reports. Bank of America raised shares of EOG Resources from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Thursday, May 10th. Tudor Pickering downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of EOG Resources from $106.00 to $113.00 and gave the company a “neutral” rating in a report on Tuesday, May 1st. Finally, Zacks Investment Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. EOG Resources currently has a consensus rating of “Buy” and a consensus target price of $122.57.

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.26. The stock has a market capitalization of $71.19 billion, a price-to-earnings ratio of 107.13, a price-to-earnings-growth ratio of 3.32 and a beta of 1.05.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, May 3rd. The energy exploration company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.39. EOG Resources had a net margin of 26.00% and a return on equity of 8.19%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the business earned $0.15 earnings per share. EOG Resources’s revenue for the quarter was up 41.0% on a year-over-year basis. equities analysts forecast that EOG Resources Inc will post 4.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Saturday, July 7th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, July 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.62%. EOG Resources’s dividend payout ratio is 66.07%.

In related news, President Gary L. Thomas sold 50,000 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $125.36, for a total transaction of $6,268,000.00. Following the completion of the transaction, the president now owns 988,947 shares in the company, valued at $123,974,395.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank G. Wisner sold 890 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $115.81, for a total transaction of $103,070.90. Following the transaction, the director now owns 118,700 shares of the company’s stock, valued at approximately $13,746,647. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,453 shares of company stock valued at $8,423,028. 0.51% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC lifted its position in EOG Resources by 326.1% during the first quarter. Summit Trail Advisors LLC now owns 14,492 shares of the energy exploration company’s stock valued at $309,000 after purchasing an additional 11,091 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in EOG Resources by 32.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 17,720 shares of the energy exploration company’s stock valued at $1,865,000 after purchasing an additional 4,341 shares during the last quarter. Cypress Capital Group bought a new position in EOG Resources during the first quarter valued at $270,000. Levin Capital Strategies L.P. bought a new position in EOG Resources during the first quarter valued at $58,284,000. Finally, Parsons Capital Management Inc. RI lifted its position in EOG Resources by 23.2% during the first quarter. Parsons Capital Management Inc. RI now owns 6,957 shares of the energy exploration company’s stock valued at $732,000 after purchasing an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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