Traders Buy EOG Resources Inc. (EOG) on Weakness
Traders bought shares of EOG Resources Inc. (NYSE:EOG) on weakness during trading hours on Thursday. $47.76 million flowed into the stock on the tick-up and $25.04 million flowed out of the stock on the tick-down, for a money net flow of $22.72 million into the stock. Of all equities tracked, EOG Resources had the 22nd highest net in-flow for the day. EOG Resources traded down ($0.62) for the day and closed at $81.49
A number of equities research analysts have recently commented on EOG shares. Deutsche Bank AG increased their target price on EOG Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 29th. Cowen and Company started coverage on EOG Resources in a research note on Wednesday, March 30th. They issued a “market perform” rating and a $74.00 target price on the stock. Vetr raised EOG Resources from a “strong sell” rating to a “sell” rating and set a $64.84 target price on the stock in a research note on Thursday, March 31st. Stifel Nicolaus cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. Finally, Zacks Investment Research raised EOG Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. EOG Resources presently has an average rating of “Hold” and a consensus price target of $82.50.
The company has a 50-day moving average price of $82.71 and a 200 day moving average price of $75.59. The company’s market capitalization is $44.84 billion.
EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, May 5th. The energy exploration company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.01. The company earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s quarterly revenue was down 41.6% compared to the same quarter last year. On average, equities analysts forecast that EOG Resources Inc. will post ($1.85) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a $0.1675 dividend. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.67 dividend on an annualized basis and a yield of 0.82%.
In related news, VP Ann D. Janssen sold 2,819 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $80.85, for a total value of $227,916.15. Following the completion of the transaction, the vice president now owns 62,958 shares of the company’s stock, valued at approximately $5,090,154.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $81.82, for a total value of $398,872.50. Following the completion of the transaction, the executive vice president now directly owns 59,032 shares of the company’s stock, valued at approximately $4,829,998.24. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in EOG. Private Advisor Group LLC boosted its position in EOG Resources by 0.7% in the fourth quarter. Private Advisor Group LLC now owns 14,672 shares of the energy exploration company’s stock worth $1,039,000 after buying an additional 103 shares during the last quarter. BHF Kleinwort Benson Group S.A. acquired a new position in EOG Resources during the fourth quarter worth $1,044,000. Toronto Dominion Bank boosted its position in EOG Resources by 119.5% in the fourth quarter. Toronto Dominion Bank now owns 19,525 shares of the energy exploration company’s stock worth $1,383,000 after buying an additional 10,629 shares during the last quarter. American National Bank & Trust Co. VA boosted its position in EOG Resources by 2.5% in the fourth quarter. American National Bank & Trust Co. VA now owns 25,339 shares of the energy exploration company’s stock worth $1,793,000 after buying an additional 607 shares during the last quarter. Finally, Kuntz Lesher Capital LLC boosted its position in EOG Resources by 18.3% in the fourth quarter. Kuntz Lesher Capital LLC now owns 26,487 shares of the energy exploration company’s stock worth $1,875,000 after buying an additional 4,100 shares during the last quarter.
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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