EOG Resources’ (EOG) Buy Rating Reiterated at UBS Group

UBS Group reiterated their buy rating on shares of EOG Resources (NYSE:EOG) in a research note published on Tuesday morning, MarketBeat Ratings reports. UBS Group currently has a $142.00 price objective on the energy exploration company’s stock, up from their previous price objective of $140.00.

Several other research firms have also weighed in on EOG. Wells Fargo & Company restated an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Piper Sandler cut their target price on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, KeyCorp reduced their price objective on EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $140.71.

EOG Resources Stock Performance

EOG opened at $119.90 on Tuesday. The business has a 50 day moving average price of $120.19 and a two-hundred day moving average price of $119.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The company has a market capitalization of $65.46 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 9.19 and a beta of 0.80. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, October 17th. EOG Resources’s dividend payout ratio is 37.90%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several institutional investors and hedge funds have recently modified their holdings of EOG. Banque Cantonale Vaudoise acquired a new position in EOG Resources in the 1st quarter worth about $26,000. Saudi Central Bank bought a new stake in shares of EOG Resources in the 1st quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in EOG Resources by 10,950.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock worth $26,000 after buying an additional 219 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in EOG Resources in the second quarter worth approximately $29,000. Finally, Alpine Bank Wealth Management bought a new position in EOG Resources during the first quarter valued at approximately $34,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.