EOG Resources (NYSE:EOG) Price Target Raised to $147.00 at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its price objective upped by Wells Fargo & Company from $135.00 to $147.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the energy exploration company’s stock.

Several other equities analysts have also recently issued reports on EOG. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Scotiabank reduced their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Barclays dropped their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $144.00.

EOG Resources Stock Performance

EOG opened at $136.35 on Thursday. The firm has a 50 day moving average of $127.95 and a two-hundred day moving average of $126.15. The firm has a market capitalization of $76.69 billion, a PE ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28. 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 has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date is Friday, January 17th. 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 yield of 2.86%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in EOG Resources during the third quarter worth about $26,000. Riverview Trust Co acquired a new stake in shares of EOG Resources in the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new position in EOG Resources in the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP acquired a new position in EOG Resources during the second quarter worth $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.