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

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

Several other equities analysts also recently commented on EOG. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Susquehanna decreased their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Morgan Stanley cut their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, 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. Fifteen research 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. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $144.00.

EOG Resources Stock Performance

EOG opened at $136.35 on Thursday. 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 business has a fifty day simple moving average of $127.95 and a 200 day simple moving average of $126.18. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a market capitalization 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 announced that its Board of Directors has authorized a share repurchase plan 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.86%. EOG Resources’s payout ratio is 29.31%.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $135.33, for a total value 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 $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several institutional investors have recently modified their holdings of EOG. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the 3rd quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of EOG Resources in the second quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the second quarter valued at approximately $28,000. Eastern Bank acquired a new stake in EOG Resources during the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources during the 2nd quarter worth approximately $30,000. 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.