EOG Resources, Inc. (NYSE:EOG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of EOG Resources, Inc. (NYSE:EOG) have earned an average rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $143.71.

Several equities research analysts have recently issued reports on EOG shares. Raymond James increased their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Morgan Stanley dropped their price objective 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. Evercore ISI reduced their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Barclays dropped their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, Piper Sandler decreased their price objective on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th.

Insider Buying and Selling

In other news, 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 value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction 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. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Insight Inv LLC lifted its stake in EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after acquiring an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its position in shares of EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after purchasing an additional 79 shares in the last quarter. Everpar Advisors LLC boosted its stake in shares of EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after purchasing an additional 83 shares during the period. Altman Advisors Inc. grew its holdings 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 purchasing an additional 85 shares in the last quarter. Finally, X Square Capital LLC lifted its holdings in EOG Resources by 2.7% during the 2nd quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock worth $407,000 after buying an additional 86 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG opened at $131.54 on Monday. The stock has a market cap of $73.98 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.37 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. The firm has a fifty day moving average price of $127.97 and a 200 day moving average price of $126.68. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently declared 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 2.96%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

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.