EOG Resources (NYSE:EOG) Cut to “Hold” at StockNews.com

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

Several other research firms have also recently issued reports on EOG. UBS Group decreased their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Citigroup raised their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Truist Financial boosted their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. KeyCorp reduced their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Thirteen equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Up 1.5 %

NYSE:EOG opened at $126.57 on Friday. The stock’s fifty day moving average price is $127.25 and its two-hundred day moving average price is $126.50. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources announced that its board has approved a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % 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, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Large investors have recently modified their holdings of the stock. Insight Inv LLC increased its position in EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after buying an additional 75 shares during the period. Cape ANN Savings Bank increased its position in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after acquiring an additional 79 shares during the period. Everpar Advisors LLC raised its stake in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after purchasing an additional 83 shares in the last quarter. Altman Advisors Inc. boosted its holdings in EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after purchasing an additional 85 shares during the period. Finally, X Square Capital LLC grew its position in shares of EOG Resources by 2.7% during the 2nd quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock worth $407,000 after purchasing an additional 86 shares in the last quarter. 89.91% of the stock is owned by 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.