EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of “Buy” from Analysts

EOG Resources, Inc. (NYSE:EOG) has been given an average rating of “Buy” by the twenty-five research firms that are currently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $88.45.

EOG has been the topic of a number of recent analyst reports. Barclays raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $100.00 in a research report on Thursday, June 3rd. Truist Financial downgraded EOG Resources to a “hold” rating in a research report on Monday, August 30th. Morgan Stanley boosted their price target on EOG Resources from $93.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, August 23rd. KeyCorp upped their target price on EOG Resources from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, June 10th. Finally, Sanford C. Bernstein upped their target price on EOG Resources from $92.00 to $114.00 and gave the company an “outperform” rating in a research report on Monday, June 21st.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in EOG Resources by 0.9% during the second quarter. Vanguard Group Inc. now owns 48,188,232 shares of the energy exploration company’s stock worth $4,020,826,000 after purchasing an additional 430,215 shares during the last quarter. BlackRock Inc. lifted its stake in EOG Resources by 8.5% during the second quarter. BlackRock Inc. now owns 44,034,104 shares of the energy exploration company’s stock worth $3,674,207,000 after purchasing an additional 3,435,147 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in EOG Resources by 21.6% during the first quarter. Ameriprise Financial Inc. now owns 11,302,902 shares of the energy exploration company’s stock worth $819,795,000 after purchasing an additional 2,009,016 shares during the last quarter. Geode Capital Management LLC lifted its stake in EOG Resources by 3.2% during the second quarter. Geode Capital Management LLC now owns 9,817,290 shares of the energy exploration company’s stock worth $816,765,000 after purchasing an additional 301,682 shares during the last quarter. Finally, FMR LLC lifted its stake in EOG Resources by 101.4% during the second quarter. FMR LLC now owns 7,724,623 shares of the energy exploration company’s stock worth $644,543,000 after purchasing an additional 3,889,668 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

EOG opened at $76.87 on Friday. EOG Resources has a 52-week low of $31.22 and a 52-week high of $87.99. The firm has a market capitalization of $44.88 billion, a PE ratio of 23.87, a PEG ratio of 0.78 and a beta of 2.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.60 and a current ratio of 1.73. The business’s 50-day simple moving average is $70.14 and its 200 day simple moving average is $75.43.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Wednesday, August 4th. The energy exploration company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.19. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.68 billion. EOG Resources had a return on equity of 12.77% and a net margin of 14.40%. The business’s revenue was up 275.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, research analysts forecast that EOG Resources will post 7.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 2.15%. EOG Resources’s payout ratio is presently 113.01%.

EOG Resources Company Profile

EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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