Wells Fargo & Company Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

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

A number of other research firms have also recently issued reports on EOG. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and upped their target price for the company from $147.00 to $149.00 in a research report on Monday. Finally, KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $144.00.

EOG Resources Stock Up 0.3 %

EOG Resources stock traded up $0.38 during midday trading on Thursday, reaching $135.88. The company’s stock had a trading volume of 308,826 shares, compared to its average volume of 3,114,574. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The stock has a market capitalization of $76.43 billion, a P/E ratio of 10.90, a PEG ratio of 3.58 and a beta of 1.28. 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 stock’s 50-day simple moving average is $127.61 and its 200-day simple moving average is $126.16.

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 given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.87%. EOG Resources’s dividend payout ratio is currently 31.40%.

EOG Resources announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently bought and sold shares of EOG. Insight Inv LLC lifted its stake in 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 purchasing an additional 75 shares in the last quarter. Cape ANN Savings Bank boosted its stake in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares during the last quarter. CVA Family Office LLC grew its holdings 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. increased its stake in shares of EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after acquiring an additional 81 shares during the last quarter. Finally, Everpar Advisors LLC boosted its position in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.