EOG Resources (EOG) Shares Gap Up to $105.31

EOG Resources Inc (NYSE:EOG) shares gapped up prior to trading on Monday . The stock had previously closed at $108.53, but opened at $105.31. EOG Resources shares last traded at $102.41, with a volume of 2017062 shares traded.

EOG has been the subject of several recent research reports. SunTrust Banks initiated coverage on EOG Resources in a research report on Monday, December 17th. They issued a “buy” rating and a $130.00 price target for the company. Guggenheim restated a “buy” rating and set a $126.00 target price on shares of EOG Resources in a research report on Friday, February 22nd. Piper Jaffray Companies restated a “buy” rating and set a $106.00 target price on shares of EOG Resources in a research report on Wednesday, January 9th. JPMorgan Chase & Co. set a $116.00 target price on EOG Resources and gave the company a “buy” rating in a research report on Friday, January 25th. Finally, Raymond James set a $124.00 target price on EOG Resources and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $123.00.

The company has a quick ratio of 1.13, a current ratio of 1.36 and a debt-to-equity ratio of 0.27. The firm has a market cap of $57.27 billion, a PE ratio of 18.36, a P/E/G ratio of 1.39 and a beta of 1.26.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, February 26th. The energy exploration company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.10). The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. EOG Resources had a net margin of 19.79% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, analysts expect that EOG Resources Inc will post 4.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. EOG Resources’s payout ratio is 15.88%.

In related news, Director Frank G. Wisner sold 1,296 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $87.28, for a total value of $113,114.88. Following the completion of the sale, the director now owns 120,052 shares in the company, valued at $10,478,138.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in EOG. Retirement Systems of Alabama raised its stake in EOG Resources by 1.1% in the first quarter. Retirement Systems of Alabama now owns 270,099 shares of the energy exploration company’s stock worth $25,708,000 after buying an additional 2,996 shares in the last quarter. CMH Wealth Management LLC raised its stake in EOG Resources by 15.8% in the first quarter. CMH Wealth Management LLC now owns 20,693 shares of the energy exploration company’s stock worth $1,970,000 after buying an additional 2,830 shares in the last quarter. Viking Fund Management LLC bought a new position in EOG Resources in the first quarter worth approximately $6,663,000. Strategic Advisors LLC raised its stake in EOG Resources by 10.8% in the first quarter. Strategic Advisors LLC now owns 4,865 shares of the energy exploration company’s stock worth $463,000 after buying an additional 474 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in EOG Resources by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the energy exploration company’s stock worth $2,913,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

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About EOG Resources (NYSE:EOG)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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