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

EOG Resources, Inc. (NYSE:EOG)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $154.13 and last traded at $153.75, with a volume of 1906927 shares traded. The stock had previously closed at $148.54.

Analyst Ratings Changes

EOG has been the subject of a number of recent research reports. Capital One Financial cut shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a research report on Wednesday, August 26th. Sanford C. Bernstein decreased their target price on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, May 20th. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Weiss Ratings raised EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Finally, Wall Street Zen cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $158.00.

EOG Resources Stock Down 0.1%

The company’s 50-day moving average is $144.02 and its 200 day moving average is $138.77. The company has a market capitalization of $75.98 billion, a PE ratio of 11.28, a P/E/G ratio of 0.57 and a beta of 0.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) 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 analysts’ expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.32 earnings per share. As a group, analysts anticipate that EOG Resources, Inc. will post 16.75 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s payout ratio is presently 31.75%.

Insider Activity at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The stock was 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 approximately $14,882,584. The trade was a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. grew its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Financial Life Planners purchased a new stake in EOG Resources in the first quarter worth approximately $30,000. Wedbush Fund Advisers LLC purchased a new stake in EOG Resources in the second quarter worth approximately $31,000. Global Assets Advisory LLC purchased a new stake in EOG Resources in the first quarter worth approximately $37,000. Finally, Main Street Group LTD bought a new stake in EOG Resources in the 1st quarter worth approximately $38,000. Institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.