EOG Resources (NYSE:EOG) Lifted to “Buy” at StockNews.com

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

A number of other brokerages have also recently weighed in on EOG. TD Cowen raised their price objective on shares of EOG Resources from $130.00 to $144.00 and gave the stock a hold rating in a research note on Tuesday, April 30th. Truist Financial cut their price target on EOG Resources from $165.00 to $163.00 and set a buy rating for the company in a report on Friday, April 5th. Raymond James decreased their price objective on EOG Resources from $148.00 to $145.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. Bank of America downgraded shares of EOG Resources from a buy rating to a neutral rating and cut their target price for the company from $147.00 to $140.00 in a research note on Friday, January 5th. Finally, Stifel Nicolaus decreased their price target on shares of EOG Resources from $153.00 to $150.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources has a consensus rating of Hold and an average price target of $142.27.

EOG Resources Stock Performance

Shares of EOG stock opened at $130.02 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The stock has a market cap of $74.79 billion, a PE ratio of 10.27 and a beta of 1.38. EOG Resources has a 1 year low of $106.32 and a 1 year high of $139.67. The stock has a fifty day moving average price of $127.48 and a 200 day moving average price of $122.57.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.12. EOG Resources had a return on equity of 25.11% and a net margin of 30.33%. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $2.69 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that EOG Resources will post 12.14 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $3.64 annualized dividend and a yield of 2.80%. EOG Resources’s payout ratio is 28.75%.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC raised its position in EOG Resources by 77.6% in the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of EOG Resources by 530.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after buying an additional 212 shares during the period. Peoples Bank KS acquired a new position in EOG Resources during the 3rd quarter worth approximately $31,000. Sachetta LLC purchased a new position in EOG Resources in the 4th quarter worth approximately $33,000. Finally, Hall Laurie J Trustee acquired a new stake in EOG Resources in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.