EOG Resources (NYSE:EOG) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of EOG Resources (NYSE:EOG) from a peer perform rating to an outperform rating in a report released on Friday, MarketBeat reports. The firm currently has $143.00 target price on the energy exploration company’s stock.

Other research analysts also recently issued reports about the company. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Raymond James increased their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. UBS Group reduced their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $143.48.

EOG Resources Stock Performance

Shares of EOG stock opened at $126.57 on Friday. The company has a market cap of $71.19 billion, a P/E ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. The business has a 50 day moving average of $127.18 and a two-hundred day moving average of $126.39. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has initiated a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 sale, 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 position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

Several large investors have recently added to or reduced their stakes in EOG. Foundations Investment Advisors LLC purchased a new position in EOG Resources during the second quarter valued at approximately $209,000. Larson Financial Group LLC grew its holdings in shares of EOG Resources by 8.7% during the 2nd quarter. Larson Financial Group LLC now owns 2,750 shares of the energy exploration company’s stock valued at $346,000 after acquiring an additional 220 shares in the last quarter. TD Asset Management Inc increased its stake in shares of EOG Resources by 21.8% in the second quarter. TD Asset Management Inc now owns 339,191 shares of the energy exploration company’s stock worth $42,694,000 after acquiring an additional 60,658 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock worth $61,741,000 after acquiring an additional 343,527 shares in the last quarter. Finally, 9258 Wealth Management LLC boosted its position in EOG Resources by 10.1% during the second quarter. 9258 Wealth Management LLC now owns 1,791 shares of the energy exploration company’s stock valued at $225,000 after purchasing an additional 165 shares during the last quarter. 89.91% of the stock is 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.