EOG Resources, Inc. (NYSE:EOG) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analyst sentiment is broadly neutral: EOG Resources has a consensus “Hold” rating from 28 brokerages, with an average 12-month price target of $162.32.
• Quarterly results beat expectations: EOG reported earnings of $4.87 per share versus estimates of $4.45, while revenue rose 46.2% year over year to $8.55 billion.
• The company raised its dividend: The quarterly payout increased from $1.02 to $1.10 per share, equivalent to an annualized yield of about 2.9%.

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-eight brokerages that are currently covering the company, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $162.32.

EOG has been the topic of a number of research reports. Raymond James Financial reissued a "strong-buy" rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Thursday, September 17th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 target price on shares of EOG Resources in a research note on Saturday, October 3rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Stifel Nicolaus assumed coverage on shares of EOG Resources in a research report on Thursday, September 10th. They set a "hold" rating and a $158.00 price target on the stock. Finally, Barclays lifted their price target on shares of EOG Resources from $147.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Friday, November 6th.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the transaction, the chief operating officer owned 90,790 shares in the company, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 52,317 shares of company stock valued at $7,823,480. Insiders own 0.14% of the company's stock.

Institutional Trading of EOG Resources

Several large investors have recently bought and sold shares of EOG. Byrne Asset Management LLC increased its position in shares of EOG Resources by 469.4% during the third quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company's stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. Elevated Capital Advisors LLC bought a new position in shares of EOG Resources during the third quarter valued at $30,000. Wedbush Fund Advisers LLC purchased a new stake in shares of EOG Resources during the second quarter valued at $31,000. Global Assets Advisory LLC purchased a new stake in shares of EOG Resources during the first quarter valued at $37,000. Finally, Main Street Group LTD purchased a new stake in shares of EOG Resources during the first quarter valued at $38,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 1.5%

Shares of NYSE:EOG opened at $153.81 on Thursday. The firm has a market capitalization of $79.75 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 1.90. EOG Resources has a 52-week low of $101.59 and a 52-week high of $165.93. The firm has a fifty day moving average of $149.66 and a 200 day moving average of $138.48.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, beating analysts' consensus estimates of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company's revenue for the quarter was up 46.2% on a year-over-year basis. As a group, research analysts anticipate that EOG Resources will post 17.82 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be paid a $1.10 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.9%. EOG Resources's dividend payout ratio is currently 26.36%.

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company's activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.

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