Brokerages Set EOG Resources, Inc. (NYSE:EOG) PT at $142.20

EOG Resources, Inc. (NYSE:EOG) has earned a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $142.30.

A number of research analysts recently issued reports on the company. KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Morgan Stanley lowered their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company cut their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Finally, Susquehanna reduced their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in EOG Resources by 23.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock valued at $3,209,000 after purchasing an additional 4,749 shares in the last quarter. Catalytic Wealth RIA LLC lifted its holdings in shares of EOG Resources by 45.6% during the 1st quarter. Catalytic Wealth RIA LLC now owns 2,445 shares of the energy exploration company’s stock worth $313,000 after acquiring an additional 766 shares during the period. Covestor Ltd boosted its position in shares of EOG Resources by 8.4% during the 1st quarter. Covestor Ltd now owns 1,270 shares of the energy exploration company’s stock worth $162,000 after acquiring an additional 98 shares in the last quarter. Resurgent Financial Advisors LLC increased its stake in EOG Resources by 10.7% in the first quarter. Resurgent Financial Advisors LLC now owns 2,247 shares of the energy exploration company’s stock valued at $287,000 after acquiring an additional 218 shares during the last quarter. Finally, Davis R M Inc. acquired a new position in EOG Resources during the first quarter valued at approximately $201,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE EOG opened at $135.19 on Friday. The company has a fifty day moving average price of $126.90 and a 200 day moving average price of $126.03. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The firm has a market cap of $76.04 billion, a PE ratio of 10.88, a PEG ratio of 3.57 and a beta of 1.28. 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 Increases Dividend

The business also recently declared 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 represents a $3.90 dividend on an annualized basis and a yield of 2.88%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.