EOG Resources’ (EOG) Buy Rating Reiterated at Bank of America

Bank of America reissued their buy rating on shares of EOG Resources (NYSE:EOG) in a research note released on Friday, Benzinga reports. They currently have a $151.00 target price on the energy exploration company’s stock.

Several other research firms also recently issued reports on EOG. Piper Sandler lifted their price target on shares of EOG Resources from $153.00 to $154.00 and gave the stock an overweight rating in a research note on Tuesday, May 14th. Truist Financial lowered EOG Resources from a buy rating to a hold rating and lowered their price objective for the company from $163.00 to $136.00 in a research note on Thursday, May 16th. Citigroup raised their price target on shares of EOG Resources from $124.00 to $130.00 and gave the stock a neutral rating in a research report on Friday, May 24th. JPMorgan Chase & Co. upped their price target on shares of EOG Resources from $134.00 to $141.00 and gave the company a neutral rating in a report on Thursday, March 28th. Finally, Benchmark restated a hold rating on shares of EOG Resources in a research note on Tuesday, May 7th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of Hold and an average target price of $143.19.

EOG Resources Stock Down 0.7 %

Shares of EOG Resources stock opened at $118.24 on Friday. The company has a fifty day moving average price of $128.63 and a 200 day moving average price of $122.28. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. EOG Resources has a twelve month low of $106.34 and a twelve month high of $139.67. The stock has a market cap of $67.95 billion, a price-to-earnings ratio of 9.34 and a beta of 1.32.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $2.69 EPS. EOG Resources’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that EOG Resources will post 12.14 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a $0.91 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 annualized dividend and a yield of 3.08%. EOG Resources’s dividend payout ratio is presently 28.75%.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 2,685 shares of EOG Resources stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the sale, the executive vice president now owns 109,040 shares of the company’s stock, valued at $14,206,821.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ezra Y. Yacob sold 4,729 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the sale, the chief executive officer now directly owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 2,685 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $130.29, for a total transaction of $349,828.65. Following the transaction, the executive vice president now owns 109,040 shares in the company, valued at approximately $14,206,821.60. The disclosure for this sale can be found here. Insiders sold 16,512 shares of company stock valued at $2,144,972 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock valued at $3,074,660,000 after buying an additional 9,455,621 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of EOG Resources by 26.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock valued at $598,475,000 after purchasing an additional 1,029,727 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of EOG Resources by 863.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,100,068 shares of the energy exploration company’s stock worth $139,445,000 after purchasing an additional 985,884 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in EOG Resources by 8.4% during the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after purchasing an additional 892,951 shares during the last quarter. Finally, Capital International Investors boosted its holdings in EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after buying an additional 766,056 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

About EOG Resources

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.