EOG Resources, Inc. (NYSE:EOG) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• EOG Resources has a consensus analyst rating of “Moderate Buy” from 30 analysts, with an average 12-month price target of about $156.32.
• The company recently reported better-than-expected quarterly results, posting EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion, up 22.1% year over year.
• EOG also announced a quarterly dividend of $1.02 per share payable July 31, equal to an annualized yield of about 3.0%; meanwhile, insiders sold shares and institutions continue to hold the vast majority of the stock.

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirty analysts that are currently covering the firm, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $156.3214.

A number of research analysts recently issued reports on EOG shares. Stephens reduced their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Jefferies Financial Group boosted their price target on EOG Resources from $146.00 to $170.00 and gave the company a "buy" rating in a report on Monday, April 13th. Piper Sandler boosted their price target on EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Wall Street Zen upgraded EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Mizuho set a $157.00 price target on EOG Resources and gave the company a "neutral" rating in a report on Wednesday, May 27th.

EOG Resources Stock Down 0.2%

Shares of NYSE:EOG opened at $136.42 on Monday. EOG Resources has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a market cap of $72.66 billion, a PE ratio of 13.43 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock's 50-day moving average is $137.04 and its 200 day moving average is $123.99.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the business earned $2.87 EPS. EOG Resources's revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that EOG Resources will post 16.63 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. EOG Resources's dividend payout ratio is 40.16%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of EOG Resources by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after purchasing an additional 68,888 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of EOG Resources by 66.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock worth $2,073,000 after purchasing an additional 7,877 shares in the last quarter. L2 Asset Management LLC increased its stake in shares of EOG Resources by 69.6% in the 3rd quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock worth $2,170,000 after purchasing an additional 7,940 shares in the last quarter. Alberta Investment Management Corp increased its stake in shares of EOG Resources by 254.5% in the 3rd quarter. Alberta Investment Management Corp now owns 19,500 shares of the energy exploration company's stock worth $2,186,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in shares of EOG Resources by 20.7% in the 3rd quarter. Fiera Capital Corp now owns 68,635 shares of the energy exploration company's stock worth $7,695,000 after purchasing an additional 11,774 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Company Profile

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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