EOG Resources (NYSE:EOG) Sets New 12-Month High – Here’s What Happened

EOG Resources, Inc. (NYSE:EOG)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $165.11 and last traded at $162.78, with a volume of 3,228,129 shares changing hands. The stock had previously closed at $163.03.

Analyst Ratings Changes

Several research firms have recently commented on EOG. Stifel Nicolaus initiated coverage on shares of EOG Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $158.00 target price on the stock. Capital One Financial lowered shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price for the company. in a report on Wednesday, August 26th. Citigroup restated a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus price target of $161.24.

EOG Resources Stock Performance

The firm has a 50 day moving average of $147.62 and a 200-day moving average of $140.79. The company has a market cap of $86.27 billion, a P/E ratio of 12.76, a PEG ratio of 0.58 and a beta of 0.36. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 17.70 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.5%. EOG Resources’s payout ratio is currently 31.75%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 9,039 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the transaction, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. This trade represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. This represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,317 shares of company stock valued at $7,823,480 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EOG. Jupiter Topco LLC acquired a new position in EOG Resources during the second quarter worth about $138,987,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of EOG Resources in the second quarter valued at approximately $11,746,000. Parvin Asset Management LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth $1,743,000. Transamerica Financial Advisors LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth $1,051,000. Finally, Rakuten Investment Management Inc. acquired a new position in shares of EOG Resources during the 2nd quarter valued at about $11,517,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.