EOG Resources’ (EOG) Hold Rating Reaffirmed at Benchmark

Benchmark reiterated their hold rating on shares of EOG Resources (NYSE:EOG) in a research note issued to investors on Tuesday morning,Benzinga reports.

Several other analysts have also commented on the company. Susquehanna decreased their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. UBS Group lowered 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. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Thirteen 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.20.

EOG Resources Trading Up 0.1 %

EOG traded up $0.13 during trading on Tuesday, hitting $135.32. 491,791 shares of the stock were exchanged, compared to its average volume of 3,126,167. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a 50 day simple moving average of $125.97 and a 200 day simple moving average of $126.04. The firm has a market cap of $76.11 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 3.56 and a beta of 1.28.

EOG Resources announced that its board has approved a stock 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.88%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

Insider Activity at EOG Resources

In related news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources during the third quarter worth about $26,000. Riverview Trust Co bought a new position in EOG Resources during the second quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources in the second quarter worth $28,000. Eastern Bank acquired a new stake in shares of EOG Resources during the third quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new position in EOG Resources during the 2nd quarter valued at about $30,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.