EOG Resources (NYSE:EOG) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of EOG Resources, Inc. (NYSE:EOG – Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $149.54 and traded as high as $152.99. EOG Resources shares last traded at $151.6130, with a volume of 4,333,065 shares changing hands.
Analyst Upgrades and Downgrades
A number of analysts recently commented on EOG shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Mizuho set a $165.00 price objective on EOG Resources in a research report on Thursday, October 15th. Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 target price on shares of EOG Resources in a research report on Saturday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.32.
View Our Latest Analysis on EOG
EOG Resources Stock Performance
The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 1.90. The company has a market cap of $80.74 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.54 and a beta of 0.27. The company’s 50 day moving average price is $149.80 and its 200-day moving average price is $138.73.
EOG Resources (NYSE:EOG – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. EOG Resources’s revenue for the quarter was up 46.2% on a year-over-year basis. Equities research analysts anticipate that EOG Resources, Inc. will post 17.96 earnings per share for the current fiscal year.
EOG Resources Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is currently 26.36%.
Insider Transactions at EOG Resources
In related news, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is owned by company insiders.
Hedge Funds Weigh In On EOG Resources
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Patrick M Sweeney & Associates Inc. boosted its holdings in EOG Resources by 3.6% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,895 shares of the energy exploration company’s stock worth $261,000 after buying an additional 65 shares during the period. Keybank National Association OH grew its stake in EOG Resources by 0.3% in the 3rd quarter. Keybank National Association OH now owns 22,312 shares of the energy exploration company’s stock valued at $3,074,000 after buying an additional 69 shares in the last quarter. Hantz Financial Services Inc. grew its stake in EOG Resources by 1.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,692 shares of the energy exploration company’s stock valued at $646,000 after buying an additional 72 shares in the last quarter. Summitry LLC raised its holdings in EOG Resources by 1.5% during the 1st quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock valued at $699,000 after acquiring an additional 73 shares during the period. Finally, Murphy Pohlad Asset Management LLC raised its holdings in EOG Resources by 4.8% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 1,661 shares of the energy exploration company’s stock valued at $229,000 after acquiring an additional 76 shares during the period. Institutional investors own 89.91% of the company’s stock.
EOG Resources Company Profile
EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.