EOG Resources (NYSE:EOG) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other analysts also recently issued reports on EOG. Scotiabank downgraded EOG Resources from a sector outperform rating to a sector perform rating and upped their price target for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on EOG Resources from $134.00 to $141.00 and gave the stock a neutral rating in a research report on Thursday, March 28th. Truist Financial reduced their price objective on shares of EOG Resources from $165.00 to $163.00 and set a buy rating for the company in a research note on Friday, April 5th. Mizuho raised their target price on shares of EOG Resources from $138.00 to $140.00 and gave the company a buy rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $145.00 target price on shares of EOG Resources in a research report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $142.27.

EOG Resources Stock Down 1.6 %

Shares of EOG Resources stock opened at $129.95 on Wednesday. The firm has a market cap of $74.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.38. The stock has a 50-day simple moving average of $126.80 and a 200-day simple moving average of $122.53. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the firm earned $3.30 earnings per share. EOG Resources’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that EOG Resources will post 12.15 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were paid a $0.91 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.80%. EOG Resources’s dividend payout ratio is currently 27.98%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EOG. Envestnet Portfolio Solutions Inc. acquired a new stake in EOG Resources in the 3rd quarter valued at about $4,431,000. TIAA Trust National Association grew its position in shares of EOG Resources by 639.3% in the 4th quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock valued at $6,971,000 after purchasing an additional 49,840 shares during the period. AIA Group Ltd increased its position in shares of EOG Resources by 128.0% during the fourth quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock worth $1,234,000 after acquiring an additional 5,728 shares in the last quarter. L. Roy Papp & Associates LLP raised its stake in shares of EOG Resources by 18.3% in the 4th quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock valued at $20,362,000 after purchasing an additional 26,026 shares during the period. Finally, Yacktman Asset Management LP raised its position in EOG Resources by 4.8% in the 4th quarter. Yacktman Asset Management LP now owns 1,789,433 shares of the energy exploration company’s stock valued at $216,432,000 after buying an additional 82,302 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.