Investors Buy EOG Resources (EOG) on Weakness

Traders purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading on Wednesday. $108.49 million flowed into the stock on the tick-up and $55.59 million flowed out of the stock on the tick-down, for a money net flow of $52.90 million into the stock. Of all companies tracked, EOG Resources had the 19th highest net in-flow for the day. EOG Resources traded down ($4.04) for the day and closed at $104.07

Several equities research analysts recently weighed in on the company. MKM Partners assumed coverage on EOG Resources in a report on Wednesday. They issued a “buy” rating and a $133.00 price objective for the company. Robert W. Baird reissued a “buy” rating and issued a $133.00 price objective on shares of EOG Resources in a report on Monday. Zacks Investment Research lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Morgan Stanley decreased their price objective on EOG Resources from $133.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. Finally, ValuEngine raised EOG Resources from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $136.42.

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.09 and a quick ratio of 0.92. The company has a market capitalization of $60.35 billion, a P/E ratio of 92.92, a PEG ratio of 1.23 and a beta of 1.20.

EOG Resources (NYSE:EOG) last issued its earnings results on Friday, November 2nd. The energy exploration company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.56 by $0.19. EOG Resources had a return on equity of 16.79% and a net margin of 30.90%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the company earned $0.19 EPS. The firm’s revenue was up 80.8% compared to the same quarter last year. Equities analysts forecast that EOG Resources Inc will post 5.96 earnings per share for the current year.

In other news, Director Charles R. Crisp sold 1,792 shares of EOG Resources stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $116.80, for a total transaction of $209,305.60. Following the completion of the sale, the director now owns 49,741 shares in the company, valued at approximately $5,809,748.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David W. Trice sold 2,489 shares of EOG Resources stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $127.44, for a total value of $317,198.16. Following the sale, the executive vice president now owns 74,807 shares of the company’s stock, valued at approximately $9,533,404.08. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC bought a new stake in shares of EOG Resources during the 3rd quarter valued at about $573,000. Vanguard Group Inc. boosted its position in shares of EOG Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 43,778,579 shares of the energy exploration company’s stock valued at $5,584,833,000 after acquiring an additional 268,736 shares during the last quarter. Legal & General Group Plc boosted its position in shares of EOG Resources by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 2,566,005 shares of the energy exploration company’s stock valued at $327,345,000 after acquiring an additional 45,701 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of EOG Resources by 12,208.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 155,579 shares of the energy exploration company’s stock valued at $1,219,000 after acquiring an additional 154,315 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new stake in shares of EOG Resources during the 3rd quarter valued at about $3,783,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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About EOG Resources (NYSE:EOG)

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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