EOG Resources, Inc. (NYSE:EOG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

EOG Resources, Inc. (NYSE:EOG) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are covering the stock, MarketBeat.com reports. Twelve 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 1-year price target among analysts that have issued ratings on the stock in the last year is $143.48.

A number of equities research analysts have recently issued reports on the stock. 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 note on Thursday, September 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Raymond James lifted their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, Piper Sandler cut their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th.

EOG Resources Stock Performance

NYSE EOG opened at $126.57 on Monday. The stock has a market cap of $71.19 billion, a PE ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a fifty day simple moving average of $127.25 and a 200-day simple moving average of $126.54. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently declared 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. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, 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. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after buying an additional 75,194 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after acquiring an additional 180,755 shares during the period. Ameriprise Financial Inc. raised its holdings in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares in the last quarter. Franklin Resources Inc. lifted its position in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Finally, Legal & General Group Plc increased its position in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. 89.91% of the stock is currently owned by hedge funds and other 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.