EOG Resources (NYSE:EOG) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of EOG Resources (NYSE:EOGGet Rating) from an outperform rating to a strong-buy rating in a research report sent to investors on Tuesday, The Fly reports. The firm currently has $170.00 price objective on the energy exploration company’s stock.

Other equities analysts have also recently issued research reports about the company. Susquehanna lifted their price target on EOG Resources from $135.00 to $147.00 in a report on Monday, April 25th. Barclays lifted their target price on EOG Resources from $139.00 to $143.00 and gave the stock an overweight rating in a research note on Wednesday, April 13th. Benchmark cut EOG Resources from a buy rating to a hold rating in a research note on Wednesday, March 2nd. They noted that the move was a valuation call. Royal Bank of Canada lifted their price objective on shares of EOG Resources from $125.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, March 7th. Finally, Susquehanna Bancshares increased their price objective on shares of EOG Resources from $135.00 to $147.00 in a research report on Monday, April 25th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $131.70.

Shares of EOG Resources stock opened at $124.28 on Tuesday. The stock has a market cap of $72.79 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.24 and a beta of 1.68. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. EOG Resources has a 12-month low of $62.81 and a 12-month high of $132.35. The business’s 50 day moving average is $119.80 and its 200-day moving average is $106.16.

EOG Resources (NYSE:EOGGet Rating) last issued its earnings results on Thursday, May 5th. The energy exploration company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.31. EOG Resources had a net margin of 23.12% and a return on equity of 29.77%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that EOG Resources will post 16.36 EPS for the current year.

The company also recently disclosed a None dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $1.80 per share. The ex-dividend date is Tuesday, June 14th. EOG Resources’s payout ratio is 40.05%.

In other news, CAO Ann D. Janssen sold 3,688 shares of EOG Resources stock in a transaction on Monday, March 21st. The stock was sold at an average price of $121.96, for a total value of $449,788.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,327 shares of the business’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $117.15, for a total value of $1,326,958.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,677 shares of company stock worth $2,343,086. Insiders own 0.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Lumature Wealth Partners LLC acquired a new stake in EOG Resources in the first quarter valued at approximately $28,000. BDO Wealth Advisors LLC lifted its stake in shares of EOG Resources by 476.2% in the 1st quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of EOG Resources during the 1st quarter valued at $33,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in EOG Resources by 1,436.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock worth $34,000 after acquiring an additional 273 shares during the last quarter. Finally, HBC Financial Services PLLC acquired a new position in EOG Resources in the 1st quarter worth about $33,000. 85.87% of the stock is currently owned by institutional investors.

EOG Resources Company Profile (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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