EOG Resources (NYSE:EOG) Given “Neutral” Rating at Bank of America

Bank of America reiterated their neutral rating on shares of EOG Resources (NYSE:EOG) in a research report released on Monday morning, MarketBeat.com reports. Bank of America currently has a $144.00 price objective on the energy exploration company’s stock, down from their previous price objective of $151.00.

A number of other brokerages have also recently commented on EOG. Scotiabank cut their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Barclays cut their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Raymond James boosted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a research report on Monday, January 6th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Up 2.4 %

NYSE EOG opened at $134.51 on Monday. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The firm has a 50 day simple moving average of $128.21 and a 200-day simple moving average of $126.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 3.37 and a beta of 1.29.

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

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is 31.40%.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction 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 sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the third quarter worth about $26,000. Eastern Bank bought a new position in EOG Resources in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in EOG Resources in the third quarter valued at approximately $31,000. HM Payson & Co. grew its stake in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new position in EOG Resources in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.