EOG Resources (NYSE:EOG) Upgraded at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a research report released on Saturday.

Other analysts also recently issued reports about the company. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Piper Sandler lowered their price objective on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Raymond James increased their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Mizuho lowered their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group cut their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Stock Up 2.4 %

EOG Resources stock opened at $134.51 on Friday. 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 company has a market capitalization of $75.66 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.37 and a beta of 1.29. The firm has a 50 day moving average price of $128.21 and a 200-day moving average price of $126.77. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently announced 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. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 31.40%.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter worth about $26,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources in the 3rd quarter worth approximately $31,000. HM Payson & Co. boosted its stake in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Matrix Trust Co purchased a new position in EOG Resources during the third quarter valued at approximately $43,000. Institutional investors 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.