Traders Buy Shares of EOG Resources Inc. (EOG) on Weakness
Investors 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 stocks 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
A number of equities analysts recently weighed in on EOG shares. Barclays PLC upped their target price on shares of EOG Resources from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, July 14th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $79.00 price target on shares of EOG Resources in a research note on Tuesday, May 10th. Zacks Investment Research downgraded shares of 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 shares of 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 equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. EOG Resources currently has an average rating of “Hold” and an average target price of $82.50.
The company’s 50 day moving average is $82.72 and its 200-day moving average is $75.67. The firm’s market cap is $44.56 billion.
EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, May 5th. The energy exploration company reported ($0.83) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.84) by $0.01. The business earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted $0.03 EPS. The company’s revenue for the quarter was down 41.6% compared to the same quarter last year. On average, analysts predict that EOG Resources Inc. will post ($1.79) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.1675 dividend. This represents a $0.67 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Wednesday, July 13th.
In other news, VP Ann D. Janssen sold 2,819 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were 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 $5,090,154.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank G. Wisner sold 3,108 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $84.15, for a total transaction of $261,538.20. Following the completion of the transaction, the director now directly owns 115,910 shares of the company’s stock, valued at approximately $9,753,826.50. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Boston Partners raised its position in EOG Resources by 22.1% in the fourth quarter. Boston Partners now owns 9,807,109 shares of the energy exploration company’s stock valued at $694,245,000 after buying an additional 1,776,409 shares during the last quarter. Eaton Vance Management raised its position in EOG Resources by 239.2% in the fourth quarter. Eaton Vance Management now owns 1,992,688 shares of the energy exploration company’s stock valued at $141,062,000 after buying an additional 1,405,225 shares during the last quarter. Vanguard Group Inc. increased its position in shares of EOG Resources by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 37,357,217 shares of the energy exploration company’s stock worth $2,644,518,000 after buying an additional 948,822 shares in the last quarter. Alleghany Corp DE increased its position in shares of EOG Resources by 566.7% in the fourth quarter. Alleghany Corp DE now owns 1,000,000 shares of the energy exploration company’s stock worth $70,791,000 after buying an additional 850,000 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of EOG Resources by 22.2% in the fourth quarter. Morgan Stanley now owns 4,334,255 shares of the energy exploration company’s stock worth $306,822,000 after buying an additional 786,029 shares in 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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