EOG Resources Inc (NYSE:EOG) – Research analysts at Jefferies Group lifted their Q3 2019 earnings estimates for EOG Resources in a report released on Wednesday. Jefferies Group analyst M. Lear now forecasts that the energy exploration company will post earnings per share of $0.84 for the quarter, up from their previous estimate of $0.78. Jefferies Group currently has a “Hold” rating and a $101.00 price target on the stock. Jefferies Group also issued estimates for EOG Resources’ FY2019 earnings at $3.25 EPS.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Morgan Stanley raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $97.00 to $106.00 in a report on Tuesday, September 12th. ValuEngine raised shares of EOG Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Barclays boosted their price target on shares of EOG Resources from $101.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Finally, Piper Jaffray Companies reduced their price target on shares of EOG Resources from $109.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $109.91.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 2nd. The energy exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. EOG Resources had a net margin of 0.10% and a return on equity of 1.73%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in EOG Resources by 14.7% in the 2nd quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock valued at $3,787,329,000 after acquiring an additional 5,368,941 shares during the last quarter. Vanguard Group Inc. lifted its holdings in EOG Resources by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,179,515 shares of the energy exploration company’s stock valued at $3,727,570,000 after acquiring an additional 1,058,276 shares during the last quarter. Capital World Investors lifted its holdings in EOG Resources by 9.9% in the 2nd quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock valued at $1,580,657,000 after acquiring an additional 1,568,085 shares during the last quarter. Northern Trust Corp lifted its holdings in EOG Resources by 8.7% in the 2nd quarter. Northern Trust Corp now owns 8,001,255 shares of the energy exploration company’s stock valued at $724,272,000 after acquiring an additional 638,183 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in EOG Resources by 8.0% in the 2nd quarter. Alliancebernstein L.P. now owns 6,914,602 shares of the energy exploration company’s stock valued at $625,910,000 after acquiring an additional 511,099 shares during the last quarter. 85.25% of the stock is owned by institutional investors.
In other EOG Resources news, insider Gary L. Thomas sold 25,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $96.63, for a total value of $2,415,750.00. Following the completion of the sale, the insider now directly owns 1,067,465 shares of the company’s stock, valued at approximately $103,149,142.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy K. Driggers sold 8,871 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $105.45, for a total transaction of $935,446.95. Following the completion of the sale, the chief financial officer now directly owns 185,157 shares of the company’s stock, valued at $19,524,805.65. The disclosure for this sale can be found here. Insiders sold 164,304 shares of company stock valued at $4,837,383 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a $0.1675 dividend. This represents a $0.67 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, January 16th. EOG Resources’s payout ratio is currently 6,700.00%.
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About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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