EOG Resources (NYSE:EOG) Hits New 12-Month Low – Here’s Why

Shares of EOG Resources, Inc. (NYSE:EOG) reached a new 52-week low on Wednesday . The company traded as low as $103.46 and last traded at $104.79, with a volume of 5530963 shares trading hands. The stock had previously closed at $109.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Citigroup decreased their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average price target of $144.67.

EOG Resources Price Performance

The company has a market cap of $57.80 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The firm has a 50 day simple moving average of $125.65 and a 200-day simple moving average of $127.43. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.72%. EOG Resources’s payout ratio is 34.73%.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in EOG Resources by 1.7% during the 1st quarter. Rhumbline Advisers now owns 1,072,311 shares of the energy exploration company’s stock worth $137,513,000 after acquiring an additional 17,586 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of EOG Resources by 20.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,909 shares of the energy exploration company’s stock worth $1,014,000 after purchasing an additional 1,335 shares during the period. Marion Wealth Management boosted its position in EOG Resources by 4.7% in the first quarter. Marion Wealth Management now owns 12,930 shares of the energy exploration company’s stock valued at $1,658,000 after buying an additional 576 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in EOG Resources by 2.1% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 53,910 shares of the energy exploration company’s stock worth $6,913,000 after buying an additional 1,095 shares during the period. Finally, Fulcrum Capital LLC raised its position in EOG Resources by 0.3% during the 1st quarter. Fulcrum Capital LLC now owns 44,895 shares of the energy exploration company’s stock worth $5,757,000 after buying an additional 118 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.