EOG Resources (NYSE:EOG) Sets New 1-Year Low on Analyst Downgrade

EOG Resources, Inc. (NYSE:EOG) shares hit a new 52-week low on Tuesday after BMO Capital Markets lowered their price target on the stock from $130.00 to $126.00. BMO Capital Markets currently has an outperform rating on the stock. EOG Resources traded as low as $102.35 and last traded at $102.2920, with a volume of 1526403 shares trading hands. The stock had previously closed at $105.93.

A number of other brokerages also recently commented on EOG. Scotiabank reaffirmed a “sector perform” rating and issued a $130.00 price objective on shares of EOG Resources in a research report on Friday, September 26th. Jefferies Financial Group set a $145.00 price target on EOG Resources in a report on Sunday, October 12th. Melius started coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of EOG Resources from $131.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Finally, Piper Sandler dropped their price target on shares of EOG Resources from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $139.29.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently made changes to their positions in EOG. Capital World Investors lifted its holdings in shares of EOG Resources by 1.4% during the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock valued at $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of EOG Resources by 0.5% during the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock worth $2,794,784,000 after purchasing an additional 122,486 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of EOG Resources by 4.2% in the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock worth $736,712,000 after buying an additional 249,984 shares during the period. Northern Trust Corp grew its stake in shares of EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after buying an additional 358,916 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of EOG Resources by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,972,687 shares of the energy exploration company’s stock valued at $669,727,000 after buying an additional 344,291 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Trading Down 3.5%

The firm has a fifty day moving average of $107.91 and a 200 day moving average of $115.02. The firm has a market capitalization of $55.47 billion, a PE ratio of 10.19, a P/E/G ratio of 8.17 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. EOG Resources’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $2.89 earnings per share. Equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a yield of 4.0%. EOG Resources’s payout ratio is 40.64%.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.