EOG Resources (NYSE:EOG) Upgraded at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG) from a hold rating to a buy rating in a report issued on Friday morning.

EOG has been the topic of several other reports. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Susquehanna dropped their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley cut 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 report on Monday, September 16th. Finally, Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $143.50.

EOG Resources Price Performance

Shares of EOG opened at $119.04 on Friday. The firm has a market cap of $66.95 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 3.39 and a beta of 1.29. The stock has a 50 day moving average of $128.12 and a 200-day moving average of $126.38. 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 has a 52 week low of $108.94 and a 52 week high of $139.67.

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

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently modified their holdings of the stock. Quotient Wealth Partners LLC lifted its stake in EOG Resources by 5.2% during the second quarter. Quotient Wealth Partners LLC now owns 1,868 shares of the energy exploration company’s stock valued at $235,000 after buying an additional 92 shares in the last quarter. LRI Investments LLC boosted its stake in EOG Resources by 4,143.5% in the 2nd quarter. LRI Investments LLC now owns 976 shares of the energy exploration company’s stock worth $123,000 after purchasing an additional 953 shares during the period. Capital Insight Partners LLC grew its position in EOG Resources by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,219 shares of the energy exploration company’s stock worth $531,000 after purchasing an additional 105 shares in the last quarter. Tributary Capital Management LLC raised its stake in EOG Resources by 12.1% during the 2nd quarter. Tributary Capital Management LLC now owns 3,696 shares of the energy exploration company’s stock valued at $465,000 after purchasing an additional 400 shares during the period. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of EOG Resources by 3.9% in the second quarter. Clear Creek Financial Management LLC now owns 6,226 shares of the energy exploration company’s stock valued at $784,000 after purchasing an additional 235 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.