EOG Resources (NYSE:EOG) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a report published on Saturday morning.

Several other brokerages have also issued reports on EOG. Evercore ISI reduced their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Susquehanna decreased their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Scotiabank dropped their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $142.20.

EOG Resources Price Performance

EOG stock opened at $134.56 on Friday. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $75.68 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28. The business has a fifty day moving average of $126.25 and a two-hundred day moving average of $125.99.

EOG Resources announced that its board has approved a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business 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 annualized dividend and a yield of 2.90%. 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 currently 29.31%.

Insider Activity

In other news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction that occurred 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 owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, 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. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Insight Inv LLC boosted its position in shares of EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after buying an additional 75 shares in the last quarter. Cape ANN Savings Bank increased its stake in shares of EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after purchasing an additional 79 shares in the last quarter. CVA Family Office LLC lifted its stake in EOG Resources by 11.0% in the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after buying an additional 81 shares in the last quarter. Bailard Inc. lifted its stake in EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares in the last quarter. Finally, Everpar Advisors LLC increased its position in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares in 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.