EOG Resources, Inc. (EOG) Sets New 1-Year Low After Insider Selling
EOG Resources, Inc. (NYSE:EOG)’s share price hit a new 52-week low during mid-day trading on Wednesday following insider selling activity. The company traded as low as $85.46 and last traded at $85.46, with a volume of 1,411,126 shares traded. The stock had previously closed at $87.02.
Specifically, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $88.22, for a total value of $352,880.00. Following the completion of the transaction, the executive vice president now directly owns 70,987 shares in the company, valued at approximately $6,262,473.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
Several brokerages recently weighed in on EOG. Stifel Nicolaus restated a “buy” rating and set a $111.00 target price on shares of EOG Resources in a report on Friday, May 26th. Scotiabank restated a “hold” rating and set a $109.00 target price on shares of EOG Resources in a report on Tuesday, May 16th. Credit Suisse Group set a $108.00 target price on EOG Resources and gave the company a “hold” rating in a report on Friday, June 2nd. Barclays PLC restated an “overweight” rating and set a $101.00 target price (up from $94.00) on shares of EOG Resources in a report on Thursday, August 3rd. Finally, Wells Fargo & Company upgraded EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $108.54.
The firm has a 50 day moving average of $91.31 and a 200 day moving average of $93.80. The company’s market cap is $49.33 billion.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, August 1st. The energy exploration company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.51 billion. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.38) EPS. Equities analysts predict that EOG Resources, Inc. will post $0.62 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of EOG Resources by 2,098.0% in the first quarter. BlackRock Inc. now owns 35,740,352 shares of the energy exploration company’s stock valued at $3,486,473,000 after buying an additional 34,114,299 shares in the last quarter. Capital Research Global Investors boosted its position in shares of EOG Resources by 14.7% in the second quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock valued at $3,787,329,000 after buying an additional 5,368,941 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of EOG Resources by 64.9% in the second quarter. Ameriprise Financial Inc. now owns 5,293,904 shares of the energy exploration company’s stock valued at $479,202,000 after buying an additional 2,083,122 shares in the last quarter. Jennison Associates LLC boosted its position in shares of EOG Resources by 35.3% in the first quarter. Jennison Associates LLC now owns 6,971,347 shares of the energy exploration company’s stock valued at $680,055,000 after buying an additional 1,816,980 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of EOG Resources by 9.9% in the second quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock valued at $1,580,657,000 after buying an additional 1,568,085 shares in the last quarter. Institutional investors and hedge funds own 83.25% of the company’s stock.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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