EOG Resources (NYSE:EOG) Reaches New 52-Week Low Following Analyst Downgrade

Shares of EOG Resources, Inc. (NYSE:EOG) reached a new 52-week low on Tuesday after BMO Capital Markets lowered their price target on the stock from $130.00 to $126.00. BMO Capital Markets currently has an outperform rating on the stock. EOG Resources traded as low as $102.35 and last traded at $102.2920, with a volume of 1526403 shares trading hands. The stock had previously closed at $105.93.

A number of other equities research analysts also recently commented on EOG. JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $131.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a research note on Wednesday, October 8th. UBS Group reiterated a “buy” rating and issued a $141.00 price objective (down previously from $144.00) on shares of EOG Resources in a research report on Friday. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 target price for the company. Finally, Argus cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.29.

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in EOG. Caitong International Asset Management Co. Ltd lifted its holdings in shares of EOG Resources by 10,950.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 219 shares in the last quarter. Saudi Central Bank acquired a new position in shares of EOG Resources during the 1st quarter worth approximately $28,000. Raleigh Capital Management Inc. acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $29,000. JCIC Asset Management Inc. acquired a new stake in EOG Resources during the 3rd quarter valued at $32,000. Finally, ORG Partners LLC increased its position in EOG Resources by 45.1% during the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after buying an additional 88 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

The company has a market capitalization of $55.47 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 8.17 and a beta of 0.49. The stock has a fifty day moving average price of $107.91 and a two-hundred day moving average price of $115.02. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the company earned $2.89 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, January 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.0%. EOG Resources’s payout ratio is 40.64%.

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.