EOG Resources (NYSE:EOG) Price Target Raised to $137.00

EOG Resources (NYSE:EOG) had its price objective increased by Truist Financial from $135.00 to $137.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the energy exploration company’s stock.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lowered their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Scotiabank decreased their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Trading Up 1.0 %

Shares of EOG Resources stock opened at $137.17 on Monday. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The stock’s 50-day simple moving average is $128.48 and its 200 day simple moving average is $126.84. The stock has a market capitalization of $77.15 billion, a P/E ratio of 11.04, a P/E/G ratio of 3.37 and a beta of 1.29. 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 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 represents a $3.90 annualized dividend and a dividend yield of 2.84%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly 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. 0.30% of the stock is owned by company insiders.

Institutional Trading of EOG Resources

A number of institutional investors have recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources during the fourth quarter valued at approximately $27,000. Eastern Bank bought a new position in shares of EOG Resources during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of EOG Resources during the third quarter valued at approximately $31,000. Finally, HM Payson & Co. raised its holdings in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.