KeyCorp Initiates Coverage on EOG Resources (NYSE:EOG)

KeyCorp started coverage on shares of EOG Resources (NYSE:EOG) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage issued an overweight rating and a $157.00 price objective on the energy exploration company’s stock.

Several other research analysts have also recently issued reports on EOG. StockNews.com raised EOG Resources from a hold rating to a buy rating in a research report on Thursday, May 9th. Stifel Nicolaus decreased their price target on shares of EOG Resources from $153.00 to $150.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the company a neutral rating in a research report on Thursday, March 28th. Piper Sandler raised their target price on EOG Resources from $153.00 to $154.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. Finally, Scotiabank lowered EOG Resources from a sector outperform rating to a sector perform rating and boosted their price target for the company from $135.00 to $155.00 in a report on Thursday, April 11th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has an average rating of Hold and an average price target of $143.19.

EOG Resources Stock Performance

Shares of EOG opened at $124.60 on Thursday. EOG Resources has a 12 month low of $107.99 and a 12 month high of $139.67. The business’s fifty day simple moving average is $126.56 and its two-hundred day simple moving average is $122.32. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The company has a market cap of $71.61 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 1.74 and a beta of 1.32.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.69 EPS. Research analysts anticipate that EOG Resources will post 12.02 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a $0.91 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.92%. EOG Resources’s dividend payout ratio is presently 28.75%.

Insider Activity

In related news, President Lloyd W. Helms, Jr. sold 1,296 shares of EOG Resources stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $130.27, for a total transaction of $168,829.92. Following the completion of the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 2,685 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $130.29, for a total value of $349,828.65. Following the completion of the sale, the executive vice president now directly owns 109,040 shares of the company’s stock, valued at approximately $14,206,821.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of EOG Resources stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total transaction of $168,829.92. Following the sale, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,512 shares of company stock valued at $2,144,972. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently added to or reduced their stakes in EOG. Vanguard Group Inc. lifted its position in EOG Resources by 0.3% during the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after acquiring an additional 146,674 shares during the last quarter. Capital Research Global Investors boosted its holdings in EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after acquiring an additional 373,365 shares in the last quarter. Capital World Investors grew its position in EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares during the last quarter. Capital International Investors lifted its stake in shares of EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after buying an additional 766,056 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of EOG Resources by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after acquiring an additional 892,951 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.