EOG Resources (NYSE:EOG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report report published on Friday.

Several other analysts also recently commented on EOG. JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Sanford C. Bernstein dropped their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. UBS Group lowered their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Scotiabank lowered their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.20.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $133.07 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $125.19 and a two-hundred day moving average price of $125.95. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a market cap of $75.66 billion, a P/E ratio of 10.71, a PEG ratio of 3.56 and a beta of 1.28.

EOG Resources announced that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

A number of institutional investors have recently modified their holdings of EOG. Vanguard Group Inc. lifted its holdings in EOG Resources by 0.3% in the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after buying an additional 146,674 shares during the period. Capital Research Global Investors lifted its holdings in EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares during the period. Capital World Investors lifted its holdings in EOG Resources by 5.4% in the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after buying an additional 1,361,538 shares during the period. Ameriprise Financial Inc. lifted its holdings in EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares during the period. Finally, Capital International Investors lifted its holdings in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after buying an additional 766,056 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.