Truist Financial Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price boosted by Truist Financial from $115.00 to $135.00 in a report released on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the energy exploration company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays cut 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 report on Thursday, October 3rd. UBS Group decreased their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler lowered their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Thirteen 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $142.20.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $133.10 on Tuesday. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $125.28 and its 200-day moving average price is $125.94. The firm has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28.

EOG Resources declared that its Board of Directors has authorized a share buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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 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 yield of 2.93%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in EOG Resources by 0.3% during the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after buying an additional 146,674 shares during the period. Capital Research Global Investors boosted its stake in shares of EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after purchasing an additional 373,365 shares during the period. Capital World Investors grew its holdings in EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% during the third 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 period. Finally, Ameriprise Financial Inc. raised its holdings in shares of EOG Resources by 2.2% in 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 buying an additional 260,727 shares during the period. 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.