EOG Resources’ (EOG) Neutral Rating Reiterated at Bank of America

Bank of America reissued their neutral rating on shares of EOG Resources (NYSE:EOG) in a research report released on Monday morning, MarketBeat Ratings reports. Bank of America currently has a $144.00 target price on the energy exploration company’s stock, down from their prior target price of $151.00.

Other research analysts have also recently issued research reports about the company. KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler reduced their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Scotiabank dropped their price target on shares of 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. Mizuho reduced their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.48.

EOG Resources Trading Up 1.0 %

EOG opened at $137.17 on Monday. The firm has a market capitalization of $77.15 billion, a PE ratio of 11.04, 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. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company’s 50-day moving average is $128.48 and its 200 day moving average is $126.84.

EOG Resources announced that its Board of Directors has authorized a stock 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 purchase up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently announced 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 of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.84%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

A number of large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its position in EOG Resources by 631.2% during the second quarter. Federated Hermes Inc. now owns 94,590 shares of the energy exploration company’s stock valued at $11,906,000 after purchasing an additional 81,654 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of EOG Resources by 3.3% during the 2nd quarter. Parallel Advisors LLC now owns 5,888 shares of the energy exploration company’s stock worth $741,000 after acquiring an additional 186 shares during the last quarter. Plato Investment Management Ltd grew its position in EOG Resources by 185.4% in the second quarter. Plato Investment Management Ltd now owns 1,627 shares of the energy exploration company’s stock worth $205,000 after acquiring an additional 1,057 shares in the last quarter. Rathbones Group PLC raised its position in EOG Resources by 4.1% during the second quarter. Rathbones Group PLC now owns 30,234 shares of the energy exploration company’s stock valued at $3,806,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Waycross Partners LLC lifted its stake in EOG Resources by 13.1% during the second quarter. Waycross Partners LLC now owns 84,965 shares of the energy exploration company’s stock worth $10,695,000 after purchasing an additional 9,847 shares during the last quarter. 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.