EOG Resources’ (EOG) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of EOG Resources (NYSE:EOG) in a research note published on Monday,Benzinga reports. They currently have a $150.00 price target on the energy exploration company’s stock.

Other research analysts have also recently issued research reports about the company. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday. Morgan Stanley decreased their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Raymond James lifted 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. Evercore ISI decreased their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, UBS Group dropped their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Stock Performance

NYSE:EOG opened at $126.28 on Monday. The firm’s fifty day simple moving average is $127.33 and its 200 day simple moving average is $126.57. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market capitalization of $71.03 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 3.39 and a beta of 1.29.

EOG Resources declared that its board has initiated a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often 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. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.09%. EOG Resources’s payout ratio is presently 31.40%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Hedge funds have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $26,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the 3rd quarter valued at approximately $31,000. HM Payson & Co. raised its stake in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after acquiring an additional 220 shares in the last quarter. Finally, Matrix Trust Co acquired a new position in EOG Resources during the 3rd quarter worth $43,000. 89.91% of the stock is currently owned by institutional investors.

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.