EOG Resources, Inc. (NYSE:EOG) Given Average Recommendation of “Hold” by Brokerages

EOG Resources, Inc. (NYSE:EOG) has received an average recommendation of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $143.50.

A number of equities research analysts recently weighed in on EOG shares. Raymond James raised their price target on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Piper Sandler lowered their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays reduced their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial increased their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley dropped their target price on shares of 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.

EOG Resources Stock Performance

NYSE EOG opened at $119.63 on Thursday. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a 50 day moving average of $128.67 and a 200-day moving average of $126.39. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $67.29 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 3.39 and a beta of 1.29.

EOG Resources declared that its Board of Directors has initiated a share 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 buy up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date 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 dividend yield of 3.26%. EOG Resources’s payout ratio is 31.40%.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction 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 sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its position in shares of EOG Resources by 10.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,352 shares of the energy exploration company’s stock valued at $925,000 after purchasing an additional 670 shares during the period. Diversified Trust Co increased its position in shares of EOG Resources by 68.7% during the second quarter. Diversified Trust Co now owns 5,978 shares of the energy exploration company’s stock worth $752,000 after acquiring an additional 2,434 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of EOG Resources by 20.4% during the second quarter. V Square Quantitative Management LLC now owns 1,921 shares of the energy exploration company’s stock worth $242,000 after acquiring an additional 325 shares in the last quarter. Swedbank AB raised its holdings in shares of EOG Resources by 3,078.4% during the second quarter. Swedbank AB now owns 96,306 shares of the energy exploration company’s stock worth $12,122,000 after acquiring an additional 93,276 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in EOG Resources by 35.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 425,265 shares of the energy exploration company’s stock valued at $53,528,000 after acquiring an additional 112,017 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.