EOG Resources, Inc. (NYSE:EOG) Given Average Rating of “Moderate Buy” by Analysts

Shares of EOG Resources, Inc. (NYSE:EOG) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $145.30.

A number of equities research analysts have weighed in on EOG shares. Truist Financial raised their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Mizuho lowered their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup raised their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Barclays reduced their target price on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of EOG Resources during the 4th quarter valued at $26,062,000. Heck Capital Advisors LLC acquired a new position in shares of EOG Resources during the 4th quarter valued at $78,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources during the 4th quarter valued at $36,000. American Trust increased its position in shares of EOG Resources by 7.9% during the 4th quarter. American Trust now owns 29,952 shares of the energy exploration company’s stock valued at $3,672,000 after purchasing an additional 2,183 shares during the period. Finally, Ascent Group LLC increased its position in shares of EOG Resources by 5.5% during the 4th quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company’s stock valued at $2,169,000 after purchasing an additional 924 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE EOG opened at $126.99 on Tuesday. EOG Resources has a fifty-two week low of $113.83 and a fifty-two week high of $139.67. The business has a 50 day moving average price of $129.30 and a two-hundred day moving average price of $127.89. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm has a market cap of $71.43 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. Sell-side analysts expect that EOG Resources will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is currently 31.40%.

EOG Resources announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are 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.