EOG Resources, Inc. (NYSE:EOG) Receives $143.48 Average Price Target from Brokerages

EOG Resources, Inc. (NYSE:EOG) has received an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the firm, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $143.71.

Several research analysts recently commented on the stock. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Morgan Stanley reduced 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 research report on Monday, September 16th. Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Citigroup lifted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % 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 have recently bought and sold shares of EOG. Graypoint LLC increased its stake in shares of EOG Resources by 13.3% in the fourth quarter. Graypoint LLC now owns 4,579 shares of the energy exploration company’s stock worth $561,000 after acquiring an additional 536 shares during the period. LVM Capital Management Ltd. MI boosted its holdings in EOG Resources by 135.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 81,762 shares of the energy exploration company’s stock valued at $10,022,000 after purchasing an additional 46,991 shares during the last quarter. Watts Gwilliam & Co. LLC grew its position in EOG Resources by 227.5% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 5,689 shares of the energy exploration company’s stock worth $726,000 after purchasing an additional 3,952 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of EOG Resources by 2.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock valued at $62,699,000 after buying an additional 10,404 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of EOG Resources by 25.6% in the 4th quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock valued at $646,000 after buying an additional 1,073 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $131.54 on Monday. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market capitalization of $73.98 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. The stock’s fifty day moving average is $127.97 and its two-hundred day moving average is $126.68. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. 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 yield of 2.96%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources declared that its Board of Directors has initiated a share buyback plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

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.