EOG Resources (NYSE:EOG) Price Target Raised to $135.00

EOG Resources (NYSE:EOG) had its target price lifted by Truist Financial from $115.00 to $135.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the energy exploration company’s stock.

A number of other equities analysts have also recently issued reports on EOG. Susquehanna decreased their price objective 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. Wells Fargo & Company reduced their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Piper Sandler dropped their price target on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. KeyCorp reduced their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus target price of $142.20.

EOG Resources Trading Up 0.1 %

EOG Resources stock traded up $0.13 during trading hours on Tuesday, reaching $135.32. The company had a trading volume of 491,791 shares, compared to its average volume of 3,126,167. The firm has a market cap of $76.11 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 3.56 and a beta of 1.28. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. 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 company has a 50-day moving average price of $125.97 and a 200 day moving average price of $126.04.

EOG Resources Increases Dividend

The company also recently disclosed 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 represents a $3.90 annualized dividend and a dividend yield of 2.88%. 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 29.31%.

EOG Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on 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 owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of EOG. Capital World Investors raised its stake in shares of EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after buying an additional 1,361,538 shares during the last quarter. Fisher Asset Management LLC raised its position in EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EOG Resources in the second quarter valued at approximately $106,990,000. Capital International Investors boosted its position in EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. Institutional investors and hedge funds 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.