EOG Resources (NYSE:EOG) Sets New 1-Year High – Here’s What Happened

EOG Resources, Inc. (NYSE:EOG)’s stock price hit a new 52-week high on Monday . The stock traded as high as $141.13 and last traded at $141.0030, with a volume of 2695933 shares trading hands. The stock had previously closed at $138.73.

Analyst Ratings Changes

EOG has been the subject of several analyst reports. Royal Bank Of Canada set a $138.00 price target on shares of EOG Resources and gave the stock an “outperform” rating in a report on Tuesday, January 13th. The Goldman Sachs Group lowered their price objective on EOG Resources from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. BMO Capital Markets increased their target price on EOG Resources from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Capital One Financial reduced their price target on EOG Resources from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Finally, Citigroup restated a “neutral” rating and issued a $115.00 price target (down from $125.00) on shares of EOG Resources in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $138.23.

EOG Resources Price Performance

The stock has a market cap of $75.17 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 3.75 and a beta of 0.44. The company’s 50 day moving average is $119.64 and its 200 day moving average is $112.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the business posted $2.74 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be issued a $1.02 dividend. The ex-dividend date is Thursday, April 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio is currently 44.79%.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief operating officer owned 61,481 shares of the company’s stock, valued at approximately $7,685,125. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,532 shares of company stock valued at $1,877,405 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Acumen Wealth Advisors LLC acquired a new stake in EOG Resources in the 4th quarter valued at about $25,000. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $26,000. Nemes Rush Group LLC purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $30,000. Gen Wealth Partners Inc acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $30,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $32,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.