StockNews.com Initiates Coverage on EOG Resources (NYSE:EOG)

Posted by Liza Goodheart on Mar 19th, 2023

StockNews.com assumed coverage on shares of EOG Resources (NYSE:EOG – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the energy exploration company’s stock.

Several other research analysts have also recently weighed in on EOG. Mizuho cut their price objective on EOG Resources from $160.00 to $150.00 in a research report on Friday, March 10th. Morgan Stanley cut their price objective on EOG Resources from $147.00 to $140.00 and set an overweight rating on the stock in a research report on Tuesday, January 24th. TD Securities cut their price objective on EOG Resources from $150.00 to $145.00 and set a hold rating on the stock in a research report on Wednesday, March 8th. Barclays dropped their price target on EOG Resources from $152.00 to $145.00 and set an overweight rating on the stock in a research report on Wednesday, February 22nd. Finally, Johnson Rice cut EOG Resources from a buy rating to a hold rating and dropped their price target for the company from $177.00 to $163.00 in a research report on Monday, December 5th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources has an average rating of Moderate Buy and an average price target of $152.45.

EOG Resources Trading Down 1.7 %

Shares of EOG Resources stock opened at $102.75 on Thursday. The stock has a fifty day simple moving average of $123.48 and a 200 day simple moving average of $127.07. EOG Resources has a 12-month low of $92.16 and a 12-month high of $150.88. The company has a market capitalization of $60.39 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 0.29 and a beta of 1.52. The company has a current ratio of 1.90, a quick ratio of 1.71 and a debt-to-equity ratio of 0.15.

EOG Resources (NYSE:EOG – Get Rating) last posted its quarterly earnings data on Friday, February 24th. The energy exploration company reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). EOG Resources had a return on equity of 34.95% and a net margin of 30.19%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the prior year, the firm posted $3.09 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that EOG Resources will post 12.58 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be paid a dividend of $0.825 per share. The ex-dividend date is Thursday, April 13th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.21%. EOG Resources’s payout ratio is 24.98%.

Insiders Place Their Bets

In other EOG Resources news, Director Michael T. Kerr bought 20,000 shares of the firm’s stock in a transaction on Thursday, January 12th. The shares were acquired at an average cost of $130.49 per share, for a total transaction of $2,609,800.00. Following the purchase, the director now directly owns 170,000 shares of the company’s stock, valued at $22,183,300. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently added to or reduced their stakes in the business. Ossiam increased its stake in EOG Resources by 1,206.7% in the 4th quarter. Ossiam now owns 196 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 181 shares during the last quarter. HM Payson & Co. increased its stake in EOG Resources by 54.3% in the 3rd quarter. HM Payson & Co. now owns 233 shares of the energy exploration company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in EOG Resources in the 4th quarter worth about $28,000. Lumature Wealth Partners LLC bought a new position in EOG Resources in the 1st quarter worth about $28,000. Finally, Kistler Tiffany Companies LLC bought a new position in shares of EOG Resources during the 4th quarter valued at about $30,000. 87.40% of the stock is currently owned by institutional investors.

About EOG Resources

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EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.