EOG Resources (NYSE:EOG) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of EOG Resources (NYSE:EOG) from a sell rating to a hold rating in a report published on Wednesday morning, ValuEngine reports.

A number of other analysts also recently weighed in on the company. Wells Fargo & Co lifted their price target on EOG Resources from $101.00 to $103.00 and gave the company an outperform rating in a research note on Monday, August 12th. Morgan Stanley decreased their price target on EOG Resources from $101.00 to $97.00 and set an equal weight rating on the stock in a research note on Friday, July 12th. Raymond James restated a buy rating and issued a $102.00 price target on shares of EOG Resources in a research note on Thursday, August 22nd. Guggenheim set a $108.00 price target on EOG Resources and gave the company a buy rating in a research note on Wednesday, August 21st. Finally, SunTrust Banks decreased their price target on EOG Resources to $120.00 and set a buy rating on the stock in a research note on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $111.57.

Shares of EOG Resources stock traded up $0.08 during trading on Wednesday, reaching $70.92. The company’s stock had a trading volume of 2,479,008 shares, compared to its average volume of 4,397,972. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.20. EOG Resources has a 12-month low of $69.10 and a 12-month high of $133.53. The company has a market capitalization of $41.13 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.34. The business has a 50 day moving average price of $76.20 and a 200-day moving average price of $87.14.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.02). EOG Resources had a net margin of 19.69% and a return on equity of 16.25%. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts predict that EOG Resources will post 4.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.2875 per share. The ex-dividend date is Wednesday, October 16th. This represents a $1.15 dividend on an annualized basis and a yield of 1.62%. EOG Resources’s payout ratio is 20.76%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of EOG Resources by 1.0% in the second quarter. Vanguard Group Inc. now owns 45,641,750 shares of the energy exploration company’s stock valued at $4,251,986,000 after acquiring an additional 473,441 shares in the last quarter. BlackRock Inc. lifted its position in shares of EOG Resources by 3.5% in the second quarter. BlackRock Inc. now owns 35,712,596 shares of the energy exploration company’s stock valued at $3,326,986,000 after acquiring an additional 1,201,811 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of EOG Resources by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 14,661,614 shares of the energy exploration company’s stock valued at $1,365,875,000 after acquiring an additional 98,651 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of EOG Resources by 100.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,253,340 shares of the energy exploration company’s stock valued at $1,141,521,000 after acquiring an additional 6,128,570 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of EOG Resources by 32,106.0% in the second quarter. Nuveen Asset Management LLC now owns 8,219,605 shares of the energy exploration company’s stock valued at $765,738,000 after acquiring an additional 8,194,083 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

EOG Resources Company Profile

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 People's Republic of China, and Canada.

Further Reading: Cash Asset Ratio

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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