Truist Financial Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target upped by Truist Financial from $115.00 to $135.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the energy exploration company’s stock.

Several other brokerages have also recently weighed in on EOG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Evercore ISI lowered their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Friday, November 8th. UBS Group reduced their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein cut their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $142.20.

EOG Resources Price Performance

EOG Resources stock opened at $133.10 on Tuesday. The stock has a market cap of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28. The firm has a 50-day moving average of $125.28 and a two-hundred day moving average of $125.94. 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 current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the third quarter worth about $26,000. Riverview Trust Co purchased a new stake in EOG Resources in the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.