Key Points
- EOG Resources EVP Michael Donaldson sold 7,336 shares at an average price of $148, generating $1.09 million and reducing his holdings by 6.8% to 100,558 shares.
- EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion.
- The company declared a quarterly dividend of $1.02 per share, or $4.08 annualized, representing a 2.7% yield; analysts’ consensus rating is Hold with a $158 price target.
EOG Resources, Inc. (NYSE:EOG - Get Free Report) EVP Michael Donaldson sold 7,336 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares of the company's stock, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
EOG Resources Stock Up 0.7%
Shares of NYSE:EOG opened at $148.43 on Tuesday. The company has a market cap of $77.86 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.55 and a beta of 0.26. The firm's 50-day simple moving average is $143.48 and its 200-day simple moving average is $138.38. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $153.67.
EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business's revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.32 earnings per share. As a group, equities research analysts predict that EOG Resources, Inc. will post 16.75 earnings per share for the current year.
EOG Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's payout ratio is currently 31.75%.
Institutional Trading of EOG Resources
Several institutional investors and hedge funds have recently made changes to their positions in EOG. Jupiter Topco LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $138,987,000. Punch & Associates Investment Management Inc. acquired a new position in shares of EOG Resources in the second quarter valued at approximately $11,746,000. Parvin Asset Management LLC purchased a new position in shares of EOG Resources during the second quarter valued at approximately $1,743,000. Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of EOG Resources by 39.2% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company's stock valued at $9,136,000 after buying an additional 24,500 shares during the period. Finally, Transamerica Financial Advisors LLC acquired a new stake in EOG Resources during the second quarter worth approximately $1,051,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Seaport Research Partners began coverage on EOG Resources in a research note on Thursday, September 3rd. They set a "neutral" rating for the company. Susquehanna restated a "positive" rating and issued a $170.00 price target (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. UBS Group reaffirmed a "buy" rating and set a $183.00 price objective (up from $158.00) on shares of EOG Resources in a report on Monday. JPMorgan Chase & Co. cut their price objective on EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Finally, Freedom Capital downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $158.00.
Read Our Latest Report on EOG
About EOG Resources
(
Get Free Report)
EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.
The company's principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.
EOG traces its history to Enron Oil & Gas Company, which was established in 1990.
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