EOG Resources (NYSE:EOG) Upgraded by Wolfe Research to “Outperform” Rating

Wolfe Research upgraded shares of EOG Resources (NYSE:EOG) from a peer perform rating to an outperform rating in a research note released on Friday, Marketbeat.com reports. Wolfe Research currently has $143.00 price target on the energy exploration company’s stock.

A number of other brokerages also recently commented on EOG. Piper Sandler lowered their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. UBS Group cut their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Morgan Stanley decreased their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Mizuho decreased their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Up 1.5 %

EOG opened at $126.57 on Friday. The firm has a market cap of $71.19 billion, a P/E ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. The business’s fifty day simple moving average is $127.18 and its 200 day simple moving average is $126.39. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 3.08%. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has approved a share repurchase program 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the 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 completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred 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 $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Insight Inv LLC raised its stake in shares of EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after purchasing an additional 75 shares in the last quarter. Cape ANN Savings Bank raised its stake in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares in the last quarter. Everpar Advisors LLC lifted its holdings in EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Altman Advisors Inc. grew its position in shares of EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares in the last quarter. Finally, X Square Capital LLC increased its holdings in shares of EOG Resources by 2.7% in the 2nd quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock valued at $407,000 after acquiring an additional 86 shares during the last quarter. 89.91% of the stock is currently owned by 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.