EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of “Hold” from Brokerages

Shares of EOG Resources, Inc. (NYSE:EOG) have been given a consensus rating of “Hold” by the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $144.00.

A number of equities analysts have commented on the company. Raymond James raised their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Barclays dropped their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. UBS Group lowered their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and raised their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $136.35 on Friday. The company’s 50 day moving average price is $127.95 and its two-hundred day moving average price is $126.18. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market cap of $76.69 billion, a PE ratio of 10.98, a PEG ratio of 3.59 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th 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 2.86%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in EOG Resources by 23.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after purchasing an additional 4,749 shares in the last quarter. Catalytic Wealth RIA LLC raised its position in EOG Resources by 45.6% in the 1st quarter. Catalytic Wealth RIA LLC now owns 2,445 shares of the energy exploration company’s stock valued at $313,000 after buying an additional 766 shares during the last quarter. Covestor Ltd lifted its stake in EOG Resources by 8.4% during the 1st quarter. Covestor Ltd now owns 1,270 shares of the energy exploration company’s stock valued at $162,000 after acquiring an additional 98 shares in the last quarter. Resurgent Financial Advisors LLC boosted its holdings in EOG Resources by 10.7% during the 1st quarter. Resurgent Financial Advisors LLC now owns 2,247 shares of the energy exploration company’s stock worth $287,000 after acquiring an additional 218 shares during the last quarter. Finally, Davis R M Inc. bought a new stake in shares of EOG Resources in the 1st quarter worth $201,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

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.