Traders Buy EOG Resources (EOG) on Weakness
Investors bought shares of EOG Resources Inc (NYSE:EOG) on weakness during trading hours on Thursday. $175.81 million flowed into the stock on the tick-up and $111.44 million flowed out of the stock on the tick-down, for a money net flow of $64.37 million into the stock. Of all equities tracked, EOG Resources had the 31st highest net in-flow for the day. EOG Resources traded down ($0.49) for the day and closed at $104.29
Several equities analysts have weighed in on EOG shares. Zacks Investment Research upgraded EOG Resources from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Monday, January 15th. Credit Suisse Group started coverage on EOG Resources in a research note on Monday, December 11th. They set a “neutral” rating and a $106.00 price objective on the stock. Robert W. Baird dropped their price objective on EOG Resources from $115.00 to $114.00 and set an “outperform” rating on the stock in a research note on Monday, December 18th. Citigroup upgraded EOG Resources from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, Argus lifted their target price on EOG Resources to $133.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $119.04.
The firm has a market capitalization of $58,633.23, a P/E ratio of 23.38, a PEG ratio of 3.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 16th will be paid a $0.185 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.17. This represents a $0.74 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, April 13th. EOG Resources’s payout ratio is currently 15.02%.
In other EOG Resources news, President Gary L. Thomas sold 2,000 shares of EOG Resources stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $107.95, for a total transaction of $215,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 15,322 shares of EOG Resources stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $114.26, for a total value of $1,750,691.72. Following the transaction, the executive vice president now directly owns 59,917 shares of the company’s stock, valued at approximately $6,846,116.42. The disclosure for this sale can be found here. Insiders sold a total of 59,322 shares of company stock worth $6,700,092 over the last 90 days. 0.53% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in EOG Resources by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 424,468 shares of the energy exploration company’s stock valued at $41,063,000 after buying an additional 1,957 shares in the last quarter. Toronto Dominion Bank grew its holdings in EOG Resources by 4.1% during the 4th quarter. Toronto Dominion Bank now owns 251,719 shares of the energy exploration company’s stock valued at $27,162,000 after buying an additional 9,840 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in EOG Resources by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,245,132 shares of the energy exploration company’s stock valued at $120,454,000 after buying an additional 49,303 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in EOG Resources by 14.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 462,688 shares of the energy exploration company’s stock valued at $44,760,000 after buying an additional 57,441 shares in the last quarter. Finally, Southport Management L.L.C. purchased a new position in EOG Resources during the 3rd quarter valued at about $967,000. 85.64% of the stock is owned by institutional investors and hedge funds.
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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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