EOG Resources, Inc. (NYSE:EOG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of EOG Resources, Inc. (NYSE:EOG) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $145.80.

Several equities analysts recently issued reports on the stock. Mizuho cut their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $155.00 in a report on Wednesday, February 12th. Barclays cut their price target on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial lifted their price target on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler lifted their price target on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th.

EOG Resources Price Performance

NYSE:EOG opened at $120.28 on Tuesday. The company has a 50-day moving average of $129.31 and a 200-day moving average of $127.85. The company has a market capitalization of $67.65 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources has a 52 week low of $115.40 and a 52 week 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.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, equities research analysts anticipate that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

EOG Resources announced that its board has authorized a share buyback 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

Large investors have recently bought and sold shares of the company. Financial Life Planners bought a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its stake 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 valued at $25,000 after purchasing an additional 121 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources in the fourth quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. acquired a new position in shares of EOG Resources in the fourth quarter valued at approximately $27,000. Institutional investors own 89.91% of the company’s stock.

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.