EOG Resources (NYSE:EOG) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other research analysts also recently issued reports on EOG. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Barclays lowered 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. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday. UBS Group lowered their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Trading Up 1.5 %

Shares of EOG opened at $126.57 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. The stock has a fifty day moving average price of $127.18 and a two-hundred day moving average price of $126.39. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were 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 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 legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of EOG. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $26,000. Eastern Bank bought a new position in EOG Resources in the third quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the 3rd quarter valued at $31,000. HM Payson & Co. grew its holdings in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after acquiring an additional 220 shares in the last quarter. Finally, Matrix Trust Co acquired a new stake in shares of EOG Resources in the third quarter valued at about $43,000. Institutional investors own 89.91% of the company’s stock.

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.