Investors Buy EOG Resources (EOG) on Weakness

Traders purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading on Monday. $244.32 million flowed into the stock on the tick-up and $87.69 million flowed out of the stock on the tick-down, for a money net flow of $156.63 million into the stock. Of all equities tracked, EOG Resources had the 2nd highest net in-flow for the day. EOG Resources traded down ($2.97) for the day and closed at $102.12

Several equities research analysts have recently issued reports on EOG shares. ValuEngine cut shares of EOG Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Oppenheimer started coverage on shares of EOG Resources in a research report on Wednesday, March 27th. They set an “outperform” rating and a $108.00 price objective for the company. Raymond James set a $124.00 price objective on shares of EOG Resources and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Goldman Sachs Group cut shares of EOG Resources to a “buy” rating in a research report on Friday. Finally, Morgan Stanley decreased their price objective on shares of EOG Resources from $106.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $123.00.

The stock has a market cap of $57.27 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 1.36.

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

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

In other EOG Resources news, Director Frank G. Wisner sold 1,296 shares of EOG Resources stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $87.28, for a total value of $113,114.88. Following the transaction, the director now directly owns 120,052 shares in the company, valued at $10,478,138.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. Norges Bank acquired a new position in EOG Resources in the fourth quarter valued at $504,826,000. Oregon Public Employees Retirement Fund increased its stake in shares of EOG Resources by 8,562.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,498,242 shares of the energy exploration company’s stock worth $63,000 after acquiring an additional 5,434,773 shares during the period. Eaton Vance Management increased its stake in shares of EOG Resources by 27.4% during the fourth quarter. Eaton Vance Management now owns 3,972,235 shares of the energy exploration company’s stock worth $346,418,000 after acquiring an additional 855,469 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of EOG Resources by 51.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,168,414 shares of the energy exploration company’s stock worth $189,119,000 after acquiring an additional 732,531 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of EOG Resources by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 6,797,414 shares of the energy exploration company’s stock worth $591,653,000 after acquiring an additional 486,443 shares during the period. Institutional investors own 87.89% of the company’s stock.

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EOG Resources Company Profile (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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