EOG Resources (NYSE:EOG) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of EOG Resources (NYSE:EOG) from an equal weight rating to an overweight rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $150.00 price objective on the energy exploration company’s stock, up from their prior price objective of $147.00.

EOG has been the topic of several other reports. Evercore ISI decreased their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Truist Financial lifted their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Finally, Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $143.50.

EOG Resources Price Performance

EOG Resources stock opened at $118.22 on Tuesday. 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 has a one year low of $108.94 and a one year high of $139.67. The firm has a market capitalization of $66.49 billion, a P/E ratio of 9.52, a PEG ratio of 3.39 and a beta of 1.29. The business has a fifty day moving average price of $128.39 and a 200-day moving average price of $126.33.

EOG Resources declared that its board has initiated a share buyback 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. 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 3.30%. EOG Resources’s dividend payout ratio is 31.40%.

Insiders Place Their Bets

In related 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 value of $76,867.44. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. DRW Securities LLC grew its stake in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC boosted its stake in shares of EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new position in EOG Resources during the third quarter valued at approximately $730,000. University of Texas Texas AM Investment Management Co. raised its stake in EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares in the last quarter. Finally, KBC Group NV lifted its holdings in EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares during the period. Hedge funds and other 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.