EOG Resources (NYSE:EOG) Upgraded to Sector Outperform at Scotiabank

Scotiabank upgraded shares of EOG Resources (NYSE:EOG) from a sector perform rating to a sector outperform rating in a research note released on Friday, MarketBeat.com reports. They currently have $130.00 target price on the energy exploration company’s stock, down from their prior target price of $150.00.

A number of other equities analysts have also recently weighed in on EOG. Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. UBS Group cut their target price on EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target 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. Finally, Wells Fargo & Company reduced their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.19.

EOG Resources Price Performance

EOG stock opened at $108.62 on Friday. The firm has a market cap of $59.91 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a 1 year low of $102.52 and a 1 year high of $139.67. The stock has a 50-day simple moving average of $124.28 and a 200-day simple moving average of $126.97.

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

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 34.73%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The stock was 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 $6,098,240.32. The trade was a 7.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of EOG Resources during the 3rd quarter valued at $516,000. Coldstream Capital Management Inc. grew its holdings in EOG Resources by 15.1% during the third quarter. Coldstream Capital Management Inc. now owns 6,661 shares of the energy exploration company’s stock worth $826,000 after acquiring an additional 876 shares during the period. Sunbelt Securities Inc. raised its position in EOG Resources by 35.6% in the third quarter. Sunbelt Securities Inc. now owns 2,463 shares of the energy exploration company’s stock worth $303,000 after acquiring an additional 647 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in EOG Resources by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,705 shares of the energy exploration company’s stock valued at $701,000 after acquiring an additional 178 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its position in shares of EOG Resources by 15.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,840 shares of the energy exploration company’s stock valued at $226,000 after purchasing an additional 250 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.