EOG Resources (NYSE:EOG) Sets New 1-Year High on Analyst Upgrade

Key Points

• EOG Resources shares hit a new 52‑week high after Wolfe Research raised its price target to $152; the stock traded as high as $134 and last at $132.57 on volume of about 1.21 million shares.
• Analyst sentiment is mixed: the consensus rating is "Hold" with an average price target of $135.77 (1 Strong Buy, 11 Buy, 17 Hold), while several brokers have recently both raised and lowered targets.
• EOG beat quarterly estimates (EPS $2.27 vs. $2.20; revenue $5.64B vs. $5.36B) and announced a quarterly dividend of $1.02 (annualized $4.08, ~3.1% yield; ex‑dividend April 16).

EOG Resources, Inc. (NYSE:EOG - Get Free Report) shares hit a new 52-week high on Monday after Wolfe Research raised their price target on the stock from $140.00 to $152.00. The company traded as high as $134.00 and last traded at $132.57, with a volume of 1207474 shares trading hands. The stock had previously closed at $131.41.

Several other equities analysts have also recently weighed in on EOG. Susquehanna decreased their target price on EOG Resources from $151.00 to $144.00 and set a "positive" rating on the stock in a research report on Thursday, February 26th. Barclays reduced their price objective on EOG Resources from $136.00 to $133.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 21st. Roth Mkm reiterated a "neutral" rating and set a $110.00 target price on shares of EOG Resources in a research report on Wednesday, February 25th. Jefferies Financial Group raised their target price on shares of EOG Resources from $140.00 to $146.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, BMO Capital Markets boosted their price target on shares of EOG Resources from $120.00 to $140.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat, EOG Resources currently has an average rating of "Hold" and an average price target of $135.77.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer owned 61,481 shares of the company's stock, valued at approximately $7,685,125. This represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 7,774 shares of company stock worth $945,895. Company insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently bought and sold shares of the business. Union Savings Bank purchased a new stake in shares of EOG Resources during the 4th quarter worth $326,000. Hsbc Holdings PLC grew its stake in EOG Resources by 34.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,956,432 shares of the energy exploration company's stock valued at $205,387,000 after purchasing an additional 502,667 shares during the last quarter. EJMK Ventures LLC bought a new position in EOG Resources in the fourth quarter worth about $329,000. Arwa LLC bought a new position in EOG Resources in the fourth quarter worth about $1,188,000. Finally, MidFirst Bank purchased a new stake in shares of EOG Resources during the fourth quarter valued at about $2,823,000. Institutional investors own 89.91% of the company's stock.

EOG Resources Trading Up 1.2%

The firm has a market capitalization of $71.34 billion, a PE ratio of 14.60 and a beta of 0.44. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The company's 50-day simple moving average is $113.78 and its 200 day simple moving average is $112.08.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm earned $2.74 EPS. The company's quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, April 16th. EOG Resources's dividend payout ratio is currently 44.79%.

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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