Investors Buy Shares of EOG Resources Inc. (EOG) on Weakness
Traders bought shares of EOG Resources Inc. (NYSE:EOG) on weakness during trading hours on Friday. $56.05 million flowed into the stock on the tick-up and $34.43 million flowed out of the stock on the tick-down, for a money net flow of $21.62 million into the stock. Of all companies tracked, EOG Resources had the 19th highest net in-flow for the day. EOG Resources traded down ($0.51) for the day and closed at $80.98
Several equities analysts have recently commented on EOG shares. Barclays PLC upped their price target on EOG Resources from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $79.00 price target on shares of EOG Resources in a research note on Tuesday, May 10th. Zacks Investment Research lowered EOG Resources from a “hold” rating to a “sell” rating in a research note on Monday, April 25th. Stephens reaffirmed a “hold” rating on shares of EOG Resources in a research note on Saturday, May 14th. Finally, Vetr raised EOG Resources from a “strong sell” rating to a “sell” rating and set a $72.00 price target on the stock in a research note on Tuesday, April 19th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $82.50.
The company’s market cap is $44.56 billion. The firm’s 50-day moving average is $82.72 and its 200 day moving average is $75.67.
EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, May 5th. The energy exploration company reported ($0.83) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.01. During the same quarter in the prior year, the firm earned $0.03 EPS. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.70 billion. The company’s revenue for the quarter was down 41.6% compared to the same quarter last year. Analysts predict that EOG Resources Inc. will post ($1.84) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be paid a dividend of $0.1675 per share. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, July 13th.
In related news, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the business’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 transaction, the executive vice president now owns 59,032 shares in the company, valued at $4,829,998.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank G. Wisner sold 3,108 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $84.15, for a total value of $261,538.20. Following the completion of the transaction, the director now owns 115,910 shares in the company, valued at approximately $9,753,826.50. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have added to or reduced their stakes in EOG. KBC Group NV boosted its position in EOG Resources by 8.3% in the fourth quarter. KBC Group NV now owns 226,044 shares of the energy exploration company’s stock valued at $16,002,000 after buying an additional 17,379 shares during the period. State of Tennessee Treasury Department boosted its position in EOG Resources by 1.1% in the fourth quarter. State of Tennessee Treasury Department now owns 495,980 shares of the energy exploration company’s stock valued at $35,110,000 after buying an additional 5,396 shares during the period. Employees Retirement System of Texas boosted its position in EOG Resources by 12.0% in the fourth quarter. Employees Retirement System of Texas now owns 298,000 shares of the energy exploration company’s stock valued at $21,095,000 after buying an additional 32,000 shares during the period. Roosevelt Investment Group Inc. boosted its position in EOG Resources by 75.8% in the fourth quarter. Roosevelt Investment Group Inc. now owns 237,557 shares of the energy exploration company’s stock valued at $16,817,000 after buying an additional 102,441 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in EOG Resources by 19.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,328,525 shares of the energy exploration company’s stock valued at $235,620,000 after buying an additional 544,376 shares during the period.
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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