EOG Resources (NYSE:EOG) Given New $140.00 Price Target at Piper Sandler

EOG Resources (NYSE:EOG) had its price target reduced by Piper Sandler from $149.00 to $140.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. Citigroup boosted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho reduced their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday. Scotiabank dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Raymond James boosted their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, Susquehanna dropped their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.50.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $123.14 on Tuesday. The company’s 50 day moving average price is $128.90 and its two-hundred day moving average price is $126.44. The firm has a market capitalization of $69.26 billion, a P/E ratio of 9.91, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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 given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 31.40%.

Insider Buying and Selling at EOG Resources

In other 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 value of $76,867.44. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources during the third quarter worth about $26,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources in the 3rd quarter worth $31,000. HM Payson & Co. raised its holdings in shares of EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. Finally, Matrix Trust Co bought a new position in shares of EOG Resources during the third quarter valued at about $43,000. 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.