EOG Resources (NYSE:EOG) Shares Gap Down - What's Next?

Key Points

• Gapped down: EOG shares opened pre-market at $126.31 after a $134.07 close and were last trading around $125.20 on volume of about 756,203 shares.
• Analyst moves have been mixed but generally bullish — several firms raised price targets (Wells Fargo to $199, Raymond James to $185, Jefferies to $170) while the consensus remains a "Hold" with an average price target of $151.11.
• EOG beat quarterly estimates (EPS $2.27 vs. $2.20; revenue $5.64B vs. $5.36B) and announced a quarterly dividend of $1.02 (3.2% yield, ex-dividend April 16).

EOG Resources, Inc. (NYSE:EOG - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $134.07, but opened at $126.31. EOG Resources shares last traded at $125.1950, with a volume of 756,203 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research raised their target price on EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Wells Fargo & Company raised their price objective on shares of EOG Resources from $155.00 to $199.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Jefferies Financial Group boosted their price objective on shares of EOG Resources from $146.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday. Susquehanna cut their price target on shares of EOG Resources from $151.00 to $144.00 and set a "positive" rating on the stock in a research note on Thursday, February 26th. Finally, Raymond James Financial boosted their price target on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $151.11.

EOG Resources Trading Down 4.9%

The business's 50-day moving average price is $131.82 and its 200-day moving average price is $116.01. The firm has a market capitalization of $68.34 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.77 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share 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 during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the prior year, the business earned $2.74 EPS. EOG Resources's quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.2%. EOG Resources's payout ratio is presently 44.79%.

Insider Activity at EOG Resources

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer owned 88,045 shares of the company's stock, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,230 shares of company stock valued at $2,522,568 in the last 90 days. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On EOG Resources

Large investors have recently modified their holdings of the business. Acumen Wealth Advisors LLC purchased a new position in EOG Resources in the fourth quarter worth $25,000. Prosperity Bancshares Inc acquired a new position in shares of EOG Resources during the 4th quarter worth $26,000. JCIC Asset Management Inc. purchased a new position in shares of EOG Resources in the 3rd quarter valued at about $32,000. Gen Wealth Partners Inc purchased a new position in shares of EOG Resources in the 4th quarter valued at about $30,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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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