EOG Resources (NYSE:EOG) Share Price Crosses Above 50 Day Moving Average – Here’s Why

EOG Resources, Inc. (NYSE:EOG) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $149.54 and traded as high as $152.99. EOG Resources shares last traded at $151.6130, with a volume of 4,333,065 shares changing hands.

Analyst Ratings Changes

EOG has been the subject of a number of research reports. Susquehanna reiterated a “positive” rating and set a $196.00 target price (up from $187.00) on shares of EOG Resources in a research report on Tuesday. Roth Capital restated a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. Seaport Research Partners started coverage on EOG Resources in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Finally, Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $162.32.

EOG Resources Trading Up 2.1%

The firm has a 50 day simple moving average of $149.54 and a 200 day simple moving average of $138.26. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $79.53 billion, a PE ratio of 9.79, a P/E/G ratio of 0.52 and a beta of 0.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, topping the consensus estimate of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same period last year, the company earned $2.71 EPS. EOG Resources’s revenue for the quarter was up 46.2% on a year-over-year basis. Equities analysts expect that EOG Resources, Inc. will post 17.72 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be paid a $1.10 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, January 15th. EOG Resources’s dividend payout ratio (DPR) is presently 28.42%.

Insider Activity

In other news, EVP Michael Donaldson sold 7,336 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. This represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey Leitzell sold 9,039 shares of the company’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the sale, the chief operating officer owned 90,790 shares of the company’s stock, valued at $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,317 shares of company stock valued at $7,823,480 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of EOG Resources in the 2nd quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP grew its stake in shares of EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after buying an additional 54,091 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of EOG Resources during the second quarter valued at approximately $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources during the second quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP raised its holdings in shares of EOG Resources by 15.7% in the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after buying an additional 468,090 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.