EOG Resources (NYSE:EOG) Sets New 52-Week High Following Analyst Upgrade

EOG Resources, Inc. (NYSE:EOG) reached a new 52-week high during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $170.00 to $187.00. Susquehanna currently has a positive rating on the stock. EOG Resources traded as high as $159.00 and last traded at $157.7310, with a volume of 2,354,862 shares. The stock had previously closed at $158.01.

EOG has been the subject of several other research reports. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Stifel Nicolaus started coverage on EOG Resources in a research note on Thursday, September 10th. They set a “hold” rating and a $158.00 price objective for the company. Truist Financial raised their target price on shares of EOG Resources from $153.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, October 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of EOG Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $161.24.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 9,039 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the sale, the chief operating officer owned 90,790 shares in the company, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 in the last 90 days. Company insiders own 0.14% of the company’s stock.

More EOG Resources News

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Analyst targets raised: Susquehanna lifted its price target to $187 and assigned a positive rating, implying meaningful upside from recent levels. BMO also increased its target from $170 to $175, signaling continued confidence in EOG’s outlook. Susquehanna raises EOG target to $187 BMO raises EOG target to $175
• Positive Sentiment: Better-than-expected results: EOG reported adjusted earnings of $5.07 per share, above the $4.97 consensus estimate. Revenue reached $8.62 billion versus expectations of $8.04 billion, while revenue increased 57.4% year over year. The results were attributed to production gains, efficient asset utilization and disciplined execution. EOG reports $5.07 adjusted EPS
• Positive Sentiment: Improving momentum: Recent earnings beats and upward profit-estimate revisions have helped EOG reach a new 52-week high, reinforcing investor confidence in its drilling efficiency, infrastructure investments and long-term profitability. What EOG’s earnings beat means for shareholders
• Neutral Sentiment: Valuation remains debated: Some analysis characterizes EOG as undervalued based on earnings and cash-flow potential, while another cautions that the stock may trade below fair value only after a roughly 113% five-year gain. The strong rally and elevated valuation could temper additional gains despite favorable fundamentals. EOG may trade below fair value after its run Is EOG undervalued?

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in EOG. Foster Victor Wealth Advisors LLC lifted its stake in EOG Resources by 2.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 78,991 shares of the energy exploration company’s stock worth $10,882,000 after acquiring an additional 1,595 shares during the period. Sowell Financial Services LLC boosted its holdings in EOG Resources by 2.6% in the third quarter. Sowell Financial Services LLC now owns 6,210 shares of the energy exploration company’s stock valued at $856,000 after acquiring an additional 155 shares in the last quarter. Benchmark Financial Wealth Advisors LLC increased its position in EOG Resources by 18.2% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,237 shares of the energy exploration company’s stock valued at $308,000 after purchasing an additional 345 shares during the period. Integrated Advisors Network LLC increased its position in EOG Resources by 1.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 17,060 shares of the energy exploration company’s stock valued at $2,350,000 after purchasing an additional 289 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in EOG Resources by 357.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company’s stock valued at $271,641,000 after purchasing an additional 1,541,140 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.1%

The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $82.89 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.56 and a beta of 0.36. The company’s fifty day simple moving average is $146.89 and its 200 day simple moving average is $140.54.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the company posted $2.32 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts expect that EOG Resources, Inc. will post 17.48 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.6%. EOG Resources’s dividend payout ratio is 31.75%.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.