Traders Buy Shares of EOG Resources (EOG) on Weakness After Insider Selling

Investors bought shares of EOG Resources Inc (NYSE:EOG) on weakness during trading on Monday after an insider sold shares in the company. $79.66 million flowed into the stock on the tick-up and $51.68 million flowed out of the stock on the tick-down, for a money net flow of $27.98 million into the stock. Of all stocks tracked, EOG Resources had the 31st highest net in-flow for the day. EOG Resources traded down ($2.03) for the day and closed at $122.40Specifically, CFO Timothy K. Driggers sold 10,489 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $126.31, for a total transaction of $1,324,865.59. Following the transaction, the chief financial officer now directly owns 205,338 shares in the company, valued at $25,936,242.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ann D. Janssen sold 4,816 shares of the stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $117.97, for a total transaction of $568,143.52. Following the transaction, the senior vice president now owns 56,476 shares in the company, valued at $6,662,473.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,203 shares of company stock worth $15,261,714. Insiders own 0.51% of the company’s stock.

A number of research firms have recently issued reports on EOG. Societe Generale upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Bank of America upgraded shares of EOG Resources from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Thursday, May 10th. Tudor Pickering downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of EOG Resources from $106.00 to $113.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. EOG Resources currently has an average rating of “Buy” and an average target price of $126.37.

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.26. The company has a market capitalization of $72.03 billion, a P/E ratio of 109.22, a price-to-earnings-growth ratio of 3.18 and a beta of 1.04.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, May 3rd. The energy exploration company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.39. EOG Resources had a net margin of 26.00% and a return on equity of 8.19%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 41.0% compared to the same quarter last year. research analysts expect that EOG Resources Inc will post 5.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Saturday, July 7th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, July 16th. This represents a $0.74 annualized dividend and a dividend yield of 0.60%. EOG Resources’s payout ratio is currently 66.07%.

Large investors have recently bought and sold shares of the company. Banco de Sabadell S.A acquired a new stake in shares of EOG Resources during the fourth quarter worth $109,000. Optimum Investment Advisors acquired a new stake in shares of EOG Resources during the first quarter worth $109,000. Clearbridge Investments LLC lifted its stake in shares of EOG Resources by 106.6% during the fourth quarter. Clearbridge Investments LLC now owns 1,101 shares of the energy exploration company’s stock worth $119,000 after buying an additional 568 shares during the period. We Are One Seven LLC acquired a new stake in shares of EOG Resources during the fourth quarter worth $162,000. Finally, Citizens Financial Group Inc RI raised its holdings in shares of EOG Resources by 41.8% during the first quarter. Citizens Financial Group Inc RI now owns 1,546 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 456 shares during the last quarter. Institutional investors and hedge funds own 85.33% 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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