EOG Resources (NYSE:EOG) Hits New 12-Month Low After Analyst Downgrade

EOG Resources, Inc. (NYSE:EOG) hit a new 52-week low during mid-day trading on Tuesday after BMO Capital Markets lowered their price target on the stock from $130.00 to $126.00. BMO Capital Markets currently has an outperform rating on the stock. EOG Resources traded as low as $102.35 and last traded at $102.2920, with a volume of 1526403 shares. The stock had previously closed at $105.93.

Other analysts have also issued reports about the company. Siebert Williams Shank decreased their target price on EOG Resources from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Argus lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 25th. Royal Bank Of Canada increased their target price on EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a research note on Wednesday, October 8th. Finally, Piper Sandler dropped their price objective on shares of EOG Resources from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.93.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in shares of EOG Resources in the 1st quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock worth $26,000 after acquiring an additional 219 shares during the period. Raleigh Capital Management Inc. purchased a new position in EOG Resources in the second quarter worth $29,000. WPG Advisers LLC bought a new position in EOG Resources in the 1st quarter valued at $36,000. Finally, ORG Partners LLC increased its position in shares of EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 2.9%

The stock has a 50 day moving average price of $107.62 and a 200 day moving average price of $114.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62. The company has a market capitalization of $56.85 billion, a P/E ratio of 10.44, a PEG ratio of 7.70 and a beta of 0.49.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.89 earnings per share. Equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, January 16th. This represents a $4.08 annualized dividend and a yield of 3.9%. EOG Resources’s dividend payout ratio is presently 40.64%.

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.