EOG Resources (NYSE:EOG) Price Target Lowered to $148.00 at Mizuho

EOG Resources (NYSE:EOG) had its price objective reduced by Mizuho from $156.00 to $148.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the energy exploration company’s stock.

A number of other brokerages also recently issued reports on EOG. Susquehanna lowered their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company upped their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $149.00 in a report on Monday, November 18th. Finally, Morgan Stanley reduced their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus price target of $143.80.

EOG Resources Stock Down 1.7 %

EOG Resources stock opened at $124.62 on Monday. The business’s 50-day moving average price is $129.04 and its 200 day moving average price is $126.45. 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 $70.09 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 3.39 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 declared that its board has initiated a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm 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 represents a $3.90 annualized dividend and a yield of 3.13%. 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 is 31.40%.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EOG. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% during the 3rd 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 purchasing an additional 75,194 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares during the period. Ameriprise Financial Inc. grew its holdings 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 buying an additional 260,727 shares during the last quarter. Franklin Resources Inc. grew its holdings 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 buying an additional 2,076,134 shares during the last quarter. Finally, Legal & General Group Plc increased its position in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after acquiring an additional 403,676 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.