EOG Resources (NYSE:EOG) Sets New 52-Week High - What's Next?

Key Points

• EOG Resources reached a new 52-week high of $154.13, with shares last trading near $153.75. Analysts’ consensus rating remains “Hold,” with an average price target of $158.00.
• The company reported stronger-than-expected quarterly results, posting $5.07 in adjusted EPS and $8.62 billion in revenue, while revenue increased 57.4% year over year.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 2.7% yield. The company also disclosed recent insider sales by its CEO and an executive vice president.

EOG Resources, Inc. (NYSE:EOG - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $154.13 and last traded at $153.75, with a volume of 1906927 shares changing hands. The stock had previously closed at $148.54.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EOG. Mizuho set a $157.00 price target on EOG Resources and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. UBS Group reaffirmed a "buy" rating and set a $183.00 target price (up from $158.00) on shares of EOG Resources in a research note on Monday. Roth Capital reiterated a "neutral" rating and issued a $138.00 target price on shares of EOG Resources in a research report on Wednesday, August 5th. Raymond James Financial reissued a "strong-buy" rating and issued a $183.00 price target on shares of EOG Resources in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat.com, EOG Resources currently has an average rating of "Hold" and a consensus target price of $158.00.

EOG Resources Price Performance

The stock has a market cap of $80.46 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.26. The stock's fifty day moving average is $143.48 and its 200-day moving average is $138.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same period in the previous year, the business posted $2.32 EPS. EOG Resources's revenue was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.75 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. EOG Resources's dividend payout ratio is currently 31.75%.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president owned 100,558 shares of the company's stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ezra Y. Yacob sold 35,942 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. SJS Investment Consulting Inc. boosted its position in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after buying an additional 124 shares during the last quarter. Nemes Rush Group LLC purchased a new position in EOG Resources in the fourth quarter valued at about $30,000. Financial Life Planners purchased a new position in EOG Resources in the first quarter valued at about $30,000. Wedbush Fund Advisers LLC acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $31,000. Finally, Global Assets Advisory LLC purchased a new stake in EOG Resources during the 1st quarter worth approximately $37,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company's principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

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