Piper Sandler Raises EOG Resources (NYSE:EOG) Price Target to $141.00

EOG Resources (NYSE:EOG) had its price target upped by Piper Sandler from $140.00 to $141.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

A number of other brokerages have also commented on EOG. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Citigroup upped their price target 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. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Scotiabank cut their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Mizuho cut their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Down 3.2 %

EOG Resources stock opened at $125.63 on Wednesday. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market capitalization of $70.66 billion, a PE ratio of 10.11, a P/E/G ratio of 3.46 and a beta of 1.29. The company’s 50-day moving average is $128.59 and its 200-day moving average is $127.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business earned $3.44 EPS. Sell-side analysts anticipate that EOG Resources will post 11.46 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.10%. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the period. Geode Capital Management LLC increased its position in EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after acquiring an additional 180,755 shares during the period. Franklin Resources Inc. increased its position in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after acquiring an additional 2,076,134 shares during the period. Pacer Advisors Inc. increased its position in EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of EOG Resources by 3.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock worth $326,247,000 after buying an additional 79,988 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.