EOG Resources (NYSE:EOG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOGFree Report) from a hold rating to a buy rating in a research report released on Friday.

A number of other equities analysts have also recently weighed in on EOG. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Raymond James boosted their price target on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Citigroup boosted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Truist Financial raised their price target on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.50.

Read Our Latest Research Report on EOG Resources

EOG Resources Stock Up 0.7 %

Shares of NYSE EOG opened at $119.04 on Friday. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a market capitalization of $66.95 billion, a P/E ratio of 9.58, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a 50 day simple moving average of $128.12 and a 200-day simple moving average of $126.33. 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 Increases Dividend

The firm 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 $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EOG. Inspire Trust Co. N.A. raised its position in EOG Resources by 11.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 7,600 shares of the energy exploration company’s stock valued at $934,000 after purchasing an additional 772 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of EOG Resources by 105.1% during the third quarter. Synovus Financial Corp now owns 97,356 shares of the energy exploration company’s stock worth $11,968,000 after buying an additional 49,899 shares during the last quarter. Tidal Investments LLC increased its position in EOG Resources by 4.7% in the 3rd quarter. Tidal Investments LLC now owns 58,790 shares of the energy exploration company’s stock valued at $7,227,000 after acquiring an additional 2,634 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its position in EOG Resources by 26.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 71,766 shares of the energy exploration company’s stock worth $8,822,000 after acquiring an additional 15,186 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

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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.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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