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

EOG Resources (NYSE:EOG) had its price objective boosted by Citigroup from $127.00 to $134.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the energy exploration company’s stock.

EOG has been the topic of several other reports. 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. Raymond James increased their target price on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, UBS Group dropped their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $144.20.

EOG Resources Stock Performance

EOG stock opened at $132.54 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $74.55 billion, a P/E ratio of 10.67, a P/E/G ratio of 3.62 and a beta of 1.28. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The stock’s 50 day simple moving average is $128.34 and its 200 day simple moving average is $126.18.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.94%. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

EOG Resources declared that its board has initiated a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in EOG Resources by 105.1% during the 3rd quarter. Synovus Financial Corp now owns 97,356 shares of the energy exploration company’s stock worth $11,968,000 after acquiring an additional 49,899 shares during the period. Tidal Investments LLC increased its stake in shares of EOG Resources by 4.7% in the 3rd quarter. Tidal Investments LLC now owns 58,790 shares of the energy exploration company’s stock valued at $7,227,000 after purchasing an additional 2,634 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of EOG Resources by 26.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 71,766 shares of the energy exploration company’s stock valued at $8,822,000 after purchasing an additional 15,186 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of EOG Resources in the 3rd quarter valued at $730,000. Finally, Sanctuary Advisors LLC increased its stake in shares of EOG Resources by 6.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 120,111 shares of the energy exploration company’s stock valued at $16,377,000 after purchasing an additional 7,508 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.