EOG Resources’ (EOG) Hold Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of EOG Resources (NYSE:EOG) in a research note published on Monday,Benzinga reports.

Several other equities analysts have also issued reports on the company. Truist Financial lifted their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Raymond James lifted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Morgan Stanley lowered their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank reduced their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Thirteen 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Stock Up 1.0 %

Shares of NYSE EOG opened at $137.17 on Monday. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The stock’s fifty day simple moving average is $128.48 and its two-hundred day simple moving average is $126.84. The stock has a market capitalization of $77.15 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The firm 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 dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.84%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 31.40%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly 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 currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after purchasing an additional 75,194 shares in the last quarter. Geode Capital Management LLC raised its position in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after acquiring an additional 180,755 shares during the period. Ameriprise Financial Inc. raised its position in shares of EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after acquiring an additional 260,727 shares during the period. Franklin Resources Inc. boosted its stake in shares of EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after acquiring an additional 403,676 shares during the period. Hedge funds and other 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.