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

Key Points

• EOG Resources, Inc. received a consensus "Moderate Buy" rating from analysts, with an average twelve-month price target of $140.71.
• The company reported a quarterly earnings per share of $2.32, exceeding estimates, but revenue was down 9.1% compared to the same quarter last year.
• EOG Resources announced an increase in its quarterly dividend to $1.02, reflecting a yield of 3.5%, with the payment scheduled for October 31st.

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one analysts that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $140.7143.

EOG has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Bank of America dropped their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. KeyCorp dropped their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Mizuho dropped their target price on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Morgan Stanley set a $135.00 target price on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd.

EOG Resources Price Performance

Shares of EOG opened at $117.60 on Tuesday. The business's 50-day moving average is $120.36 and its two-hundred day moving average is $119.27. The company has a market capitalization of $64.21 billion, a P/E ratio of 11.43, a P/E/G ratio of 9.15 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $3.16 EPS. Research analysts predict that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. EOG Resources's dividend payout ratio is 39.65%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank Pictet & Cie Europe AG increased its holdings in shares of EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after buying an additional 89,521 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of EOG Resources by 13.7% during the 4th quarter. NewEdge Advisors LLC now owns 19,204 shares of the energy exploration company's stock worth $2,354,000 after buying an additional 2,307 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of EOG Resources by 266.5% during the 4th quarter. Marshall Wace LLP now owns 29,319 shares of the energy exploration company's stock worth $3,594,000 after buying an additional 21,319 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of EOG Resources by 1.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 150,487 shares of the energy exploration company's stock worth $18,447,000 after buying an additional 2,185 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of EOG Resources by 4.1% during the 4th quarter. MML Investors Services LLC now owns 40,309 shares of the energy exploration company's stock worth $4,941,000 after buying an additional 1,601 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.

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