EOG Resources (NYSE:EOG) Sets New 1-Year Low – What’s Next?

EOG Resources, Inc. (NYSE:EOG)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $103.46 and last traded at $104.79, with a volume of 5530963 shares traded. The stock had previously closed at $109.03.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler lowered their price objective on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Morgan Stanley cut their price objective on shares of EOG Resources from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Stock Down 8.5 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market capitalization of $57.58 billion, a P/E ratio of 8.40, a PEG ratio of 3.58 and a beta of 0.93. The stock has a 50 day moving average of $124.67 and a 200-day moving average of $127.08.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is currently 34.73%.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at $6,098,240.32. The trade was a 7.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in EOG Resources in the 3rd quarter valued at $516,000. Coldstream Capital Management Inc. boosted its stake in EOG Resources by 15.1% during the third quarter. Coldstream Capital Management Inc. now owns 6,661 shares of the energy exploration company’s stock valued at $826,000 after buying an additional 876 shares during the period. Sunbelt Securities Inc. grew its position in EOG Resources by 35.6% during the third quarter. Sunbelt Securities Inc. now owns 2,463 shares of the energy exploration company’s stock worth $303,000 after buying an additional 647 shares in the last quarter. TD Private Client Wealth LLC increased its stake in EOG Resources by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,705 shares of the energy exploration company’s stock worth $701,000 after acquiring an additional 178 shares during the last quarter. Finally, Soltis Investment Advisors LLC raised its holdings in shares of EOG Resources by 88.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,051 shares of the energy exploration company’s stock valued at $375,000 after acquiring an additional 1,432 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.