Stock Repurchase Plan Declared by EOG Resources (NYSE:EOG) Board

EOG Resources (NYSE:EOG) announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th, RTT News reports. The company plans to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EOG shares. Barclays cut their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein cut their price objective on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Wolfe Research began coverage on EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $141.20.

EOG Resources Trading Up 6.1 %

NYSE EOG opened at $134.19 on Friday. The stock has a market cap of $76.30 billion, a PE ratio of 10.36, a PEG ratio of 3.24 and a beta of 1.28. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The company’s 50-day moving average price is $125.19 and its 200-day moving average price is $126.08. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11.

EOG Resources Increases Dividend

The business also recently announced 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. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.91%. EOG Resources’s dividend payout ratio (DPR) is 28.11%.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% 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.