Traders Buy Shares of EOG Resources (EOG) on Weakness

Traders purchased shares of EOG Resources Inc (NYSE:EOG) on weakness during trading hours on Friday. $126.24 million flowed into the stock on the tick-up and $95.42 million flowed out of the stock on the tick-down, for a money net flow of $30.82 million into the stock. Of all companies tracked, EOG Resources had the 33rd highest net in-flow for the day. EOG Resources traded down ($2.22) for the day and closed at $117.76

EOG has been the subject of a number of analyst reports. Stifel Nicolaus set a $146.00 price target on EOG Resources and gave the company a “buy” rating in a research report on Monday, April 23rd. UBS initiated coverage on EOG Resources in a research report on Wednesday, March 7th. They issued a “buy” rating and a $125.00 price target for the company. Piper Jaffray Companies set a $122.00 price target on EOG Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Jefferies Group set a $111.00 price target on EOG Resources and gave the company a “hold” rating in a research report on Thursday, March 8th. Finally, Tudor Pickering lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $122.57.

The stock has a market capitalization of $71.19 billion, a P/E ratio of 105.14, a price-to-earnings-growth ratio of 3.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.06.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 3rd. The energy exploration company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.80 by $0.39. EOG Resources had a return on equity of 8.19% and a net margin of 26.00%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 41.0% on a year-over-year basis. analysts forecast that EOG Resources Inc will post 4.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Saturday, July 7th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, July 16th. This represents a $0.74 annualized dividend and a dividend yield of 0.63%. EOG Resources’s dividend payout ratio is currently 66.07%.

In other news, President Gary L. Thomas sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $125.36, for a total transaction of $6,268,000.00. Following the completion of the transaction, the president now directly owns 988,947 shares in the company, valued at $123,974,395.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank G. Wisner sold 890 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $115.81, for a total value of $103,070.90. Following the transaction, the director now owns 118,700 shares of the company’s stock, valued at $13,746,647. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,453 shares of company stock valued at $8,423,028. Company insiders own 0.51% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in shares of EOG Resources by 9.5% in the first quarter. Suntrust Banks Inc. now owns 224,450 shares of the energy exploration company’s stock valued at $23,627,000 after acquiring an additional 19,526 shares in the last quarter. Ashburton Jersey Ltd acquired a new stake in shares of EOG Resources in the first quarter valued at $1,074,000. Summit Trail Advisors LLC raised its stake in shares of EOG Resources by 326.1% in the first quarter. Summit Trail Advisors LLC now owns 14,492 shares of the energy exploration company’s stock valued at $309,000 after acquiring an additional 11,091 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of EOG Resources by 32.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 17,720 shares of the energy exploration company’s stock valued at $1,865,000 after acquiring an additional 4,341 shares in the last quarter. Finally, Cypress Capital Group acquired a new stake in shares of EOG Resources in the first quarter valued at $270,000. Institutional investors and hedge funds own 85.28% of the company’s stock.

About EOG Resources

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 United Kingdom, the People's Republic of China, and Canada.

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