Piper Sandler Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target upped by Piper Sandler from $140.00 to $141.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

A number of other research analysts have also commented on EOG. Mizuho decreased their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Down 0.0 %

EOG Resources stock opened at $130.23 on Wednesday. The firm has a market capitalization of $73.25 billion, a PE ratio of 10.49, a P/E/G ratio of 3.68 and a beta of 1.29. The company’s 50-day moving average is $128.82 and its 200-day moving average is $127.41. 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 (NYSE:EOG) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period in the previous year, the business earned $3.44 EPS. Sell-side analysts anticipate that EOG Resources will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.99%. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in shares of EOG Resources during the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its holdings in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares during the period. Northwest Investment Counselors LLC acquired a new stake in EOG Resources in the third quarter worth $26,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in EOG Resources in the fourth quarter worth $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.