Mizuho Cuts EOG Resources (NYSE:EOG) Price Target to $148.00

EOG Resources (NYSE:EOG) had its price target decreased by Mizuho from $156.00 to $148.00 in a report published on Monday,Benzinga reports. Mizuho currently has an outperform rating on the energy exploration company’s stock.

A number of other research analysts have also commented on the company. Wells Fargo & Company raised their price target on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Evercore ISI lowered their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Truist Financial upped 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. JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Barclays dropped their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.50.

EOG Resources Stock Performance

Shares of EOG stock opened at $119.63 on Monday. The business has a 50 day simple moving average of $128.67 and a 200 day simple moving average of $126.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a market capitalization of $67.29 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources announced that its Board of Directors has approved a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.26%. EOG Resources’s payout ratio is currently 31.40%.

Insider Buying and Selling at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’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 transaction of $76,867.44. Following the completion of the sale, the director now directly 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 can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the third quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources in the second quarter valued at about $28,000. Eastern Bank acquired a new position in EOG Resources in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources during the 3rd quarter worth about $31,000. Finally, HM Payson & Co. lifted its holdings in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds 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.