EOG Resources (NYSE:EOG) Hits New 1-Year Low - Time to Sell?

EOG Resources, Inc. (NYSE:EOG - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $103.46 and last traded at $104.79, with a volume of 5530963 shares traded. The stock had previously closed at $109.03.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on EOG Resources from $150.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Mizuho restated a "neutral" rating and set a $140.00 price target (down from $148.00) on shares of EOG Resources in a research report on Tuesday, March 25th. Raymond James increased their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Piper Sandler lowered their target price on EOG Resources from $141.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, Citigroup cut their price target on EOG Resources from $134.00 to $125.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.19.

EOG Resources Price Performance

The company has a fifty day moving average of $124.28 and a 200-day moving average of $127.02. The stock has a market cap of $59.53 billion, a PE ratio of 8.69, a P/E/G ratio of 3.58 and a beta of 0.93. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. Sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Wednesday, April 16th. EOG Resources's dividend payout ratio is currently 34.73%.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This trade represents a 7.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Essex Financial Services Inc. lifted its position in shares of EOG Resources by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company's stock worth $753,000 after purchasing an additional 79 shares during the last quarter. Valmark Advisers Inc. boosted its position in shares of EOG Resources by 2.6% during the 4th quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company's stock worth $385,000 after acquiring an additional 79 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of EOG Resources by 8.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company's stock valued at $121,000 after acquiring an additional 80 shares during the last quarter. 1ST Source Bank raised its position in shares of EOG Resources by 1.5% during the 4th quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock worth $656,000 after acquiring an additional 80 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its stake in EOG Resources by 2.0% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock worth $498,000 after purchasing an additional 80 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.