EOG Resources, Inc. (NYSE:EOG) Receives $143.48 Consensus Price Target from Analysts

EOG Resources, Inc. (NYSE:EOG) has received an average rating of “Moderate Buy” from the twenty-two analysts that are covering the company, MarketBeat reports. Twelve 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 company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $143.71.

EOG has been the topic of several research analyst reports. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Finally, Mizuho cut their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th.

EOG Resources Price Performance

EOG stock opened at $128.31 on Monday. 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 company’s fifty day moving average price is $127.63 and its 200-day moving average price is $126.63. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a market capitalization of $72.17 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.04%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its board has initiated a share buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the third quarter valued at about $26,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources in the 3rd quarter valued at about $31,000. HM Payson & Co. lifted its position in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Finally, Matrix Trust Co bought a new position in shares of EOG Resources during the third quarter valued at approximately $43,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.