EOG Resources (NYSE:EOG) Price Target Raised to $137.00 at Truist Financial

EOG Resources (NYSE:EOGFree Report) had its target price increased by Truist Financial from $135.00 to $137.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a hold rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. UBS Group dropped their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays lowered their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a report on Monday. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Evercore ISI reduced their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average target price of $143.48.

Get Our Latest Analysis on EOG

EOG Resources Stock Performance

EOG Resources stock opened at $134.51 on Monday. 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 stock has a 50 day moving average of $128.21 and a 200-day moving average of $126.77. The stock has a market cap of $75.66 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67.

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 issued a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.90%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its board has approved a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’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 owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in EOG. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after buying an additional 75,194 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after acquiring an additional 180,755 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares during the period. Franklin Resources Inc. raised its position in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

About EOG Resources

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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.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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