EOG Resources (NYSE:EOG) Cut to Hold at StockNews.com

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

Other analysts have also recently issued research reports about the stock. Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Truist Financial increased their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average price target of $142.30.

EOG Resources Stock Down 1.0 %

NYSE EOG opened at $135.19 on Friday. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. 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 stock has a market cap of $76.04 billion, a PE ratio of 10.88, a P/E/G ratio of 3.57 and a beta of 1.28. The stock’s 50 day moving average is $126.90 and its 200 day moving average is $126.03.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

EOG Resources declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter valued at about $26,000. Riverview Trust Co purchased a new stake in EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources during the 2nd quarter valued at approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the third quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter worth $30,000. 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.