EOG Resources, Inc. (NYSE:EOG) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on EOG Resources, with 17 holds, 11 buys and one strong buy among 29 analysts. The average 12-month price target is $156.33, above the reported $143.53 share price.
• EOG exceeded quarterly expectations, reporting $5.07 in earnings per share versus the $4.97 consensus and $8.62 billion in revenue versus $8.04 billion expected. Revenue increased 57.4% year over year.
• The company declared a quarterly dividend of $1.02, equivalent to an annualized $4.08 payout and a 2.8% yield. CEO Ezra Y. Yacob also sold 35,942 shares, reducing his direct holding by 12.91%.

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have been assigned an average rating of "Hold" from the twenty-nine analysts that are presently covering the stock, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $156.3333.

A number of brokerages have issued reports on EOG. Weiss Ratings reiterated a "buy (b-)" rating on shares of EOG Resources in a report on Friday, August 7th. Wall Street Zen downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Sanford C. Bernstein reduced their target price on EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a report on Wednesday, May 20th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Finally, Susquehanna reissued a "positive" rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st.

EOG Resources Trading Down 0.7%

Shares of EOG opened at $143.53 on Friday. The firm has a market cap of $75.29 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.54 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources has a 1 year low of $101.59 and a 1 year high of $153.67. The company has a 50 day simple moving average of $140.20 and a two-hundred day simple moving average of $136.19.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the previous year, the firm earned $2.32 earnings per share. The company's quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities analysts expect that EOG Resources will post 16.87 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 Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. EOG Resources's payout ratio is presently 31.75%.

Insider Activity

In other news, CEO Ezra Y. 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 transaction of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently bought and sold shares of the business. Jupiter Topco LLC purchased a new stake in shares of EOG Resources during the 2nd quarter valued at about $138,987,000. Punch & Associates Investment Management Inc. bought a new stake in EOG Resources during the second quarter worth approximately $11,746,000. Parvin Asset Management LLC bought a new stake in EOG Resources during the second quarter worth approximately $1,743,000. Ilmarinen Mutual Pension Insurance Co raised its position in EOG Resources by 39.2% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company's stock valued at $9,136,000 after purchasing an additional 24,500 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock valued at $123,451,000 after purchasing an additional 24,984 shares during the period. Institutional investors own 89.91% of the company's stock.

About EOG Resources

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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