EOG Resources (NYSE:EOG) Earns “Outperform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of EOG Resources (NYSE:EOG) in a research report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a $145.00 price target on the energy exploration company’s stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Bank of America dropped their price target on EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Mizuho dropped their price target on EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Piper Sandler dropped their price target on EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.48.

EOG Resources Stock Performance

EOG opened at $125.40 on Friday. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market cap of $68.44 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 10.11 and a beta of 0.74. The business has a 50 day moving average of $113.49 and a 200-day moving average of $121.62. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the firm posted $2.82 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.25%. EOG Resources’s payout ratio is currently 36.18%.

Insider Activity

In other 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 value of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources in the 1st quarter valued at $26,000. Mainstream Capital Management LLC bought a new position in shares of EOG Resources in the 4th quarter valued at $25,000. Saudi Central Bank bought a new stake in EOG Resources during the 1st quarter worth $28,000. Lee Danner & Bass Inc. bought a new stake in EOG Resources during the 4th quarter worth $28,000. Finally, Heritage Wealth Advisors grew its position in EOG Resources by 562.2% during the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.