EOG Resources (NYSE:EOG) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of EOG Resources (NYSE:EOGGet Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage issued an overweight rating on the energy exploration company’s stock.

Several other analysts have also weighed in on the company. The Goldman Sachs Group raised EOG Resources from a neutral rating to a buy rating and lifted their price objective for the stock from $125.00 to $143.00 in a report on Tuesday, October 18th. TD Securities lowered EOG Resources from a buy rating to a hold rating in a report on Thursday, December 15th. Stifel Nicolaus started coverage on EOG Resources in a report on Tuesday, October 25th. They set a buy rating and a $151.00 price objective on the stock. Raymond James boosted their price target on EOG Resources from $155.00 to $171.00 in a research note on Monday, November 28th. Finally, Johnson Rice lowered EOG Resources from a buy rating to a hold rating and decreased their price target for the company from $177.00 to $163.00 in a research note on Monday, December 5th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources has an average rating of Moderate Buy and a consensus price target of $155.14.

EOG Resources Stock Performance

EOG opened at $132.76 on Tuesday. The firm has a market capitalization of $77.98 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.34 and a beta of 1.53. The stock’s 50 day moving average price is $131.67 and its two-hundred day moving average price is $124.08. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.16. EOG Resources has a 12-month low of $92.16 and a 12-month high of $150.88.

EOG Resources (NYSE:EOGGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The energy exploration company reported $3.71 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($0.04). EOG Resources had a return on equity of 35.36% and a net margin of 29.84%. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.19 billion. On average, equities analysts forecast that EOG Resources will post 13.84 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 17th will be given a dividend of $0.825 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 13th. This represents a $3.30 annualized dividend and a dividend yield of 2.49%. EOG Resources’s payout ratio is currently 25.92%.

Insider Activity at EOG Resources

In other EOG Resources news, COO Lloyd W. Helms, Jr. sold 2,720 shares of EOG Resources stock in a transaction on Monday, November 7th. The shares were sold at an average price of $146.08, for a total transaction of $397,337.60. Following the completion of the sale, the chief operating officer now owns 156,368 shares of the company’s stock, valued at approximately $22,842,237.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other EOG Resources news, COO Lloyd W. Helms, Jr. sold 2,720 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $146.08, for a total value of $397,337.60. Following the transaction, the chief operating officer now owns 156,368 shares of the company’s stock, valued at $22,842,237.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Lloyd W. Helms, Jr. sold 5,455 shares of the business’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $141.68, for a total value of $772,864.40. Following the transaction, the chief operating officer now owns 151,917 shares of the company’s stock, valued at $21,523,600.56. The disclosure for this sale can be found here. Insiders have sold 10,170 shares of company stock worth $1,459,657 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. HM Payson & Co. grew its holdings in shares of EOG Resources by 54.3% in the 3rd quarter. HM Payson & Co. now owns 233 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 82 shares during the period. Lumature Wealth Partners LLC acquired a new position in shares of EOG Resources in the 1st quarter valued at $28,000. Miller Wealth Advisors LLC grew its holdings in shares of EOG Resources by 126.1% in the 2nd quarter. Miller Wealth Advisors LLC now owns 269 shares of the energy exploration company’s stock valued at $30,000 after buying an additional 150 shares during the period. Larson Financial Group LLC acquired a new position in shares of EOG Resources in the 3rd quarter valued at $31,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at $33,000. 87.40% of the stock is owned by institutional investors.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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