Piper Sandler Cuts EOG Resources (NYSE:EOG) Price Target to $140.00

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

A number of other research firms also recently issued reports on EOG. JPMorgan Chase & Co. cut their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Raymond James boosted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley decreased their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $143.50.

EOG Resources Stock Performance

Shares of EOG opened at $118.22 on Tuesday. 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 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 business has a fifty day moving average of $128.39 and a 200 day moving average of $126.33.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.30%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s 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 sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently added to or reduced their stakes in the stock. Insight Inv LLC boosted its holdings in shares of EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares during the period. Cape ANN Savings Bank lifted its position in EOG Resources by 0.9% in the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares during the last quarter. Bailard Inc. boosted its stake in EOG Resources by 0.4% during the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after buying an additional 81 shares during the period. Everpar Advisors LLC increased its position in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. raised its stake in shares of EOG Resources by 0.7% in the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after acquiring an additional 85 shares during the period. 89.91% of the stock is owned by 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.