EOG Resources (NYSE:EOG) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other equities research analysts have also issued reports on the company. KeyCorp upped their price target on EOG Resources from $147.00 to $157.00 and gave the company an overweight rating in a research report on Monday. Citigroup increased their target price on EOG Resources from $120.00 to $124.00 and gave the stock a neutral rating in a research report on Monday, March 18th. Morgan Stanley increased their target price on EOG Resources from $132.00 to $133.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Susquehanna increased their target price on EOG Resources from $147.00 to $155.00 and gave the stock a positive rating in a research report on Monday. Finally, Raymond James dropped their target price on EOG Resources from $148.00 to $145.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $142.19.

EOG Resources Stock Performance

EOG Resources stock opened at $135.60 on Monday. The stock has a market cap of $78.00 billion, a P/E ratio of 10.42 and a beta of 1.40. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $124.83 and a 200-day moving average of $122.36. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67.

EOG Resources (NYSE:EOG) last released its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 earnings per share. On average, analysts expect that EOG Resources will post 12.15 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, April 15th. This represents a $3.64 annualized dividend and a yield of 2.68%. EOG Resources’s dividend payout ratio is currently 27.98%.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC boosted its position in shares of EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of EOG Resources by 530.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 212 shares during the period. Peoples Bank KS acquired a new position in shares of EOG Resources in the 3rd quarter valued at $31,000. Sachetta LLC acquired a new position in shares of EOG Resources in the 4th quarter valued at $33,000. Finally, Hall Laurie J Trustee acquired a new position in shares of EOG Resources in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

About EOG Resources

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.