Investors Buy EOG Resources (EOG) on Weakness

Traders purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading hours on Friday. $301.33 million flowed into the stock on the tick-up and $116.84 million flowed out of the stock on the tick-down, for a money net flow of $184.49 million into the stock. Of all companies tracked, EOG Resources had the 12th highest net in-flow for the day. EOG Resources traded down ($0.84) for the day and closed at $88.85

A number of research firms have weighed in on EOG. Guggenheim restated a “buy” rating and issued a $126.00 price target on shares of EOG Resources in a research note on Friday, February 22nd. ValuEngine raised EOG Resources from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Robert W. Baird reissued a “buy” rating and set a $133.00 price target on shares of EOG Resources in a research note on Monday, December 3rd. JPMorgan Chase & Co. upgraded EOG Resources from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $117.00 to $118.00 in a research report on Friday, December 7th. Finally, Zacks Investment Research downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. EOG Resources has a consensus rating of “Buy” and a consensus target price of $123.68.

The company has a market capitalization of $50.45 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.34 and a beta of 1.26. The company has a current ratio of 1.36, a quick ratio of 1.13 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, February 26th. The energy exploration company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.10). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.44 billion. EOG Resources had a net margin of 19.79% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, equities analysts predict that EOG Resources Inc will post 4.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s dividend payout ratio (DPR) is presently 15.88%.

In other news, Director Frank G. Wisner sold 1,296 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total value of $113,114.88. Following the transaction, the director now directly owns 120,052 shares of the company’s stock, valued at $10,478,138.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ezra Y. Yacob sold 2,388 shares of the stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $98.77, for a total transaction of $235,862.76. Following the completion of the transaction, the executive vice president now directly owns 45,424 shares in the company, valued at $4,486,528.48. The disclosure for this sale can be found here. In the last three months, insiders sold 6,834 shares of company stock worth $640,668. 0.51% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its holdings in EOG Resources by 41.2% in the 3rd quarter. Cornerstone Advisors Inc. now owns 490 shares of the energy exploration company’s stock valued at $63,000 after buying an additional 143 shares during the last quarter. Athena Capital Advisors LLC acquired a new stake in EOG Resources in the 4th quarter valued at $46,000. Legacy Financial Advisors Inc. grew its position in EOG Resources by 108.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 552 shares of the energy exploration company’s stock valued at $48,000 after purchasing an additional 287 shares during the period. Proficio Capital Partners LLC boosted its holdings in EOG Resources by 30.8% during the 4th quarter. Proficio Capital Partners LLC now owns 565 shares of the energy exploration company’s stock worth $49,000 after acquiring an additional 133 shares during the last quarter. Finally, Enlightenment Research LLC purchased a new position in EOG Resources during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

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About EOG Resources (NYSE:EOG)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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