EOG Resources (NYSE:EOG) Shares Down 4.3% – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of EOG Resources, Inc. (NYSE:EOG – Get Free Report) traded down 4.3% on Wednesday . The company traded as low as $147.50 and last traded at $147.1940. Approximately 375,505 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,139,958 shares. The stock had previously closed at $153.74.
Wall Street Analyst Weigh In
EOG has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Truist Financial increased their price target on shares of EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Stifel Nicolaus started coverage on shares of EOG Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $158.00 price target for the company. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, Capital One Financial downgraded shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price objective on the stock. in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus price target of $158.00.
Read Our Latest Stock Analysis on EOG
EOG Resources Stock Down 5.6%
The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The stock has a market cap of $76.13 billion, a PE ratio of 11.26, a P/E/G ratio of 0.55 and a beta of 0.26. The business has a 50 day moving average price of $143.86 and a 200 day moving average price of $138.60.
EOG Resources (NYSE:EOG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the business earned $2.32 earnings per share. EOG Resources’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts expect that EOG Resources, Inc. will post 16.75 EPS for the current fiscal year.
EOG Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.
Insider Activity at EOG Resources
In related news, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares in the company, valued at $14,882,584. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. SJS Investment Consulting Inc. increased its stake in shares of EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Nemes Rush Group LLC purchased a new position in EOG Resources during the fourth quarter worth approximately $30,000. Financial Life Planners acquired a new stake in EOG Resources in the first quarter valued at approximately $30,000. Wedbush Fund Advisers LLC acquired a new stake in EOG Resources in the second quarter valued at approximately $31,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of EOG Resources in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.91% of the company’s stock.
About EOG Resources
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.