EOG Resources, Inc. (NYSE:EOG) Short Interest Up 24.5% in August

EOG Resources, Inc. (NYSE:EOG) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 11,900,000 shares, a growth of 24.5% from the August 15th total of 9,560,000 shares. Based on an average daily trading volume, of 2,820,000 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.1% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Scotiabank reduced their price objective on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. UBS Group lifted their price target on EOG Resources from $166.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp began coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 target price for the company. Finally, Piper Sandler decreased their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $143.58.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $121.67 on Tuesday. The stock has a market capitalization of $69.93 billion, a P/E ratio of 9.61, a PEG ratio of 2.95 and a beta of 1.28. The business has a 50 day simple moving average of $125.85 and a two-hundred day simple moving average of $126.39. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period in the prior year, the company earned $2.49 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, analysts predict that EOG Resources will post 12.2 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock valued at $2,751,612 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional Trading of EOG Resources

Large investors have recently bought and sold shares of the business. Aveo Capital Partners LLC increased its stake in shares of EOG Resources by 4.8% in the 4th quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock worth $265,000 after acquiring an additional 101 shares during the last quarter. Kingsview Wealth Management LLC increased its position in EOG Resources by 118.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,430 shares of the energy exploration company’s stock worth $778,000 after purchasing an additional 3,487 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in EOG Resources by 32.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 78,495 shares of the energy exploration company’s stock worth $9,494,000 after purchasing an additional 19,154 shares during the period. Independent Advisor Alliance raised its stake in EOG Resources by 6.6% during the fourth quarter. Independent Advisor Alliance now owns 21,557 shares of the energy exploration company’s stock worth $2,607,000 after purchasing an additional 1,341 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in EOG Resources by 1.0% in the 4th quarter. Brown Advisory Inc. now owns 38,095 shares of the energy exploration company’s stock valued at $4,608,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.