Investors Buy Shares of EOG Resources (EOG) on Weakness

Investors bought shares of EOG Resources Inc (NYSE:EOG) on weakness during trading hours on Friday. $126.24 million flowed into the stock on the tick-up and $95.42 million flowed out of the stock on the tick-down, for a money net flow of $30.82 million into the stock. Of all companies tracked, EOG Resources had the 33rd highest net in-flow for the day. EOG Resources traded down ($2.22) for the day and closed at $117.76

A number of analysts have recently commented on EOG shares. TheStreet raised shares of EOG Resources from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. UBS initiated coverage on shares of EOG Resources in a report on Wednesday, March 7th. They set a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus set a $134.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a report on Sunday, February 11th. Piper Jaffray Companies set a $122.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a report on Wednesday, March 14th. Finally, Argus restated a “buy” rating and set a $133.00 target price on shares of EOG Resources in a report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $122.57.

The firm has a market cap of $68.17 billion, a P/E ratio of 105.14, a price-to-earnings-growth ratio of 3.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.26.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 3rd. The energy exploration company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.39. EOG Resources had a net margin of 26.00% and a return on equity of 8.19%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 41.0% on a year-over-year basis. equities research analysts expect that EOG Resources Inc will post 4.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Saturday, July 7th will be paid a $0.185 dividend. The ex-dividend date is Monday, July 16th. This represents a $0.74 annualized dividend and a dividend yield of 0.63%. EOG Resources’s dividend payout ratio (DPR) is presently 66.07%.

In related news, President Gary L. Thomas sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $125.36, for a total value of $6,268,000.00. Following the transaction, the president now directly owns 988,947 shares in the company, valued at $123,974,395.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank G. Wisner sold 890 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $115.81, for a total transaction of $103,070.90. Following the completion of the transaction, the director now owns 118,700 shares in the company, valued at $13,746,647. The disclosure for this sale can be found here. Insiders sold 67,453 shares of company stock worth $8,423,028 over the last 90 days. 0.51% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in EOG Resources by 0.6% during the first quarter. BlackRock Inc. now owns 35,115,040 shares of the energy exploration company’s stock worth $3,696,557,000 after purchasing an additional 204,958 shares during the period. Neuberger Berman Group LLC lifted its position in EOG Resources by 1.7% during the first quarter. Neuberger Berman Group LLC now owns 6,296,404 shares of the energy exploration company’s stock worth $662,822,000 after purchasing an additional 102,770 shares during the period. Geode Capital Management LLC lifted its position in EOG Resources by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 5,644,014 shares of the energy exploration company’s stock worth $607,661,000 after purchasing an additional 161,514 shares during the period. American Century Companies Inc. lifted its position in EOG Resources by 1.7% during the first quarter. American Century Companies Inc. now owns 4,327,336 shares of the energy exploration company’s stock worth $455,539,000 after purchasing an additional 72,396 shares during the period. Finally, Royal Bank of Canada lifted its position in EOG Resources by 0.8% during the first quarter. Royal Bank of Canada now owns 4,262,600 shares of the energy exploration company’s stock worth $448,722,000 after purchasing an additional 31,734 shares during the period. Institutional investors and hedge funds own 85.28% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply