EOG Resources (NYSE:EOG) Price Target Raised to $147.00

EOG Resources (NYSE:EOG) had its price target lifted by Wells Fargo & Company from $135.00 to $147.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $147.00 to $149.00 in a research report on Monday, November 18th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Evercore ISI reduced their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Barclays cut their price target 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. Finally, JPMorgan Chase & Co. dropped 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. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $144.00.

EOG Resources Price Performance

Shares of EOG opened at $136.35 on Thursday. The firm has a market cap of $76.69 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.59 and a beta of 1.28. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The business’s 50 day moving average price is $127.95 and its two-hundred day moving average price is $126.18. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources announced that its board has approved a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in EOG Resources by 3.8% during the first quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company’s stock worth $3,822,000 after purchasing an additional 1,092 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new position in EOG Resources in the 1st quarter valued at approximately $243,000. Capital International Sarl bought a new stake in EOG Resources during the 1st quarter valued at $271,000. Canada Pension Plan Investment Board lifted its position in shares of EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after acquiring an additional 339,480 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of EOG Resources by 23.5% in the first quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.