Investors Buy Shares of EOG Resources (EOG) on Weakness Following Insider Selling

Traders purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading on Monday following insider selling activity. $79.66 million flowed into the stock on the tick-up and $51.68 million flowed out of the stock on the tick-down, for a money net flow of $27.98 million into the stock. Of all equities tracked, EOG Resources had the 31st highest net in-flow for the day. EOG Resources traded down ($2.03) for the day and closed at $122.40Specifically, Director Frank G. Wisner sold 890 shares of EOG Resources stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $115.81, for a total value of $103,070.90. Following the sale, the director now directly owns 118,700 shares in the company, valued at approximately $13,746,647. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Gary L. Thomas sold 55,886 shares of EOG Resources stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $118.27, for a total value of $6,609,637.22. Following the completion of the sale, the president now owns 1,131,797 shares in the company, valued at $133,857,631.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,203 shares of company stock worth $15,261,714. Corporate insiders own 0.51% of the company’s stock.

EOG has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $146.00 price objective on EOG Resources and gave the stock a “buy” rating in a research report on Monday, April 23rd. UBS Group initiated coverage on EOG Resources in a research report on Wednesday, March 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Piper Jaffray Companies set a $122.00 price objective on EOG Resources and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Jefferies Financial Group set a $111.00 price objective on EOG Resources and gave the stock a “hold” rating in a research report on Thursday, March 8th. Finally, Societe Generale upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. EOG Resources has a consensus rating of “Buy” and an average target price of $126.37.

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.06. The firm has a market capitalization of $72.03 billion, a P/E ratio of 109.31, a price-to-earnings-growth ratio of 3.18 and a beta of 1.04.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 3rd. The energy exploration company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.39. EOG Resources had a return on equity of 8.19% and a net margin of 26.00%. The business 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 posted $0.15 earnings per share. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. equities analysts anticipate that EOG Resources Inc will post 5.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Saturday, July 7th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 0.60%. The ex-dividend date is Monday, July 16th. EOG Resources’s dividend payout ratio (DPR) is 66.07%.

A number of institutional investors have recently added to or reduced their stakes in EOG. Swedbank bought a new stake in EOG Resources in the first quarter worth $127,489,000. Element Capital Management LLC bought a new stake in EOG Resources in the fourth quarter worth $81,570,000. Two Sigma Advisers LP boosted its holdings in EOG Resources by 452.2% in the fourth quarter. Two Sigma Advisers LP now owns 766,761 shares of the energy exploration company’s stock worth $82,741,000 after acquiring an additional 627,904 shares in the last quarter. Discovery Capital Management LLC CT boosted its holdings in EOG Resources by 279.8% in the fourth quarter. Discovery Capital Management LLC CT now owns 778,500 shares of the energy exploration company’s stock worth $84,008,000 after acquiring an additional 573,500 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in EOG Resources in the first quarter worth $58,284,000. 85.33% of the stock is currently owned by institutional investors and hedge funds.

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.

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