EOG Resources (EOG) Given “Buy” Rating at Piper Jaffray Companies

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Piper Jaffray Companies reissued their buy rating on shares of EOG Resources (NYSE:EOG) in a research note issued to investors on Wednesday. They currently have a $106.00 price objective on the energy exploration company’s stock. Piper Jaffray Companies also issued estimates for EOG Resources’ Q4 2018 earnings at $1.29 EPS, FY2018 earnings at $5.61 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.76 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.95 EPS, FY2019 earnings at $3.28 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $1.10 EPS, Q3 2020 earnings at $1.18 EPS, Q4 2020 earnings at $1.26 EPS and FY2020 earnings at $4.61 EPS.

A number of other brokerages also recently weighed in on EOG. Morgan Stanley boosted their price target on EOG Resources from $122.00 to $123.00 and gave the stock a hold rating in a research report on Wednesday, September 26th. BMO Capital Markets reissued a buy rating and set a $140.00 price target on shares of EOG Resources in a research report on Thursday, October 11th. Zacks Investment Research raised EOG Resources from a hold rating to a buy rating and set a $137.00 price target on the stock in a research report on Tuesday, October 16th. ValuEngine raised EOG Resources from a hold rating to a buy rating in a research report on Wednesday, September 19th. Finally, Royal Bank of Canada set a $142.00 price target on EOG Resources and gave the stock a hold rating in a research report on Thursday, September 20th. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $133.21.

Shares of NYSE:EOG traded down $2.25 during midday trading on Wednesday, reaching $96.87. The company had a trading volume of 3,206,058 shares, compared to its average volume of 3,751,982. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.92 and a current ratio of 1.09. The company has a market cap of $57.52 billion, a P/E ratio of 86.49, a P/E/G ratio of 1.18 and a beta of 1.27. EOG Resources has a 1-year low of $82.04 and a 1-year high of $133.53.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, November 2nd. The energy exploration company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.19. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.20 billion. EOG Resources had a return on equity of 16.79% and a net margin of 30.90%. The business’s revenue was up 80.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. As a group, equities analysts predict that EOG Resources will post 5.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, January 16th. EOG Resources’s payout ratio is presently 78.57%.

In other news, EVP Ezra Y. Yacob sold 2,388 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $98.77, for a total transaction of $235,862.76. Following the completion of the transaction, the executive vice president now directly owns 45,424 shares in the company, valued at $4,486,528.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank G. Wisner sold 3,150 shares of the company’s stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $92.60, for a total transaction of $291,690.00. Following the transaction, the director now owns 116,586 shares of the company’s stock, valued at $10,795,863.60. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its holdings in EOG Resources by 41.2% in the third quarter. Cornerstone Advisors Inc. now owns 490 shares of the energy exploration company’s stock valued at $63,000 after purchasing an additional 143 shares during the period. NuWave Investment Management LLC increased its holdings in EOG Resources by 2,366.7% in the third quarter. NuWave Investment Management LLC now owns 1,184 shares of the energy exploration company’s stock valued at $151,000 after purchasing an additional 1,136 shares during the period. Resources Management Corp CT ADV acquired a new stake in EOG Resources in the third quarter valued at $158,000. ELM Advisors LLC acquired a new stake in EOG Resources in the third quarter valued at $162,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in EOG Resources in the third quarter valued at $198,000. Institutional investors own 85.53% of the company’s stock.

EOG Resources Company Profile

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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Analyst Recommendations for EOG Resources (NYSE:EOG)

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