EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Truist Financial Analyst Says

EOG Resources (NYSE:EOG) had its price target increased by Truist Financial from $135.00 to $137.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a hold rating on the energy exploration company’s stock.

Several other equities analysts have also recently weighed in on EOG. 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 research note on Monday. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Thirteen 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Performance

Shares of EOG stock opened at $134.51 on Monday. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 3.37 and a beta of 1.29. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. 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’s fifty day simple moving average is $128.21 and its 200-day simple moving average is $126.77.

EOG Resources declared that its board has authorized a stock repurchase 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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

Insider Activity at EOG Resources

In other EOG Resources 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 completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was 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 large investors have recently added to or reduced their stakes in EOG. Federated Hermes Inc. raised its stake in shares of EOG Resources by 631.2% in the second quarter. Federated Hermes Inc. now owns 94,590 shares of the energy exploration company’s stock valued at $11,906,000 after purchasing an additional 81,654 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of EOG Resources by 3.3% in the 2nd quarter. Parallel Advisors LLC now owns 5,888 shares of the energy exploration company’s stock valued at $741,000 after buying an additional 186 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of EOG Resources by 185.4% during the 2nd quarter. Plato Investment Management Ltd now owns 1,627 shares of the energy exploration company’s stock worth $205,000 after acquiring an additional 1,057 shares during the period. Rathbones Group PLC boosted its position in shares of EOG Resources by 4.1% during the 2nd quarter. Rathbones Group PLC now owns 30,234 shares of the energy exploration company’s stock valued at $3,806,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Waycross Partners LLC increased its stake in EOG Resources by 13.1% in the second quarter. Waycross Partners LLC now owns 84,965 shares of the energy exploration company’s stock valued at $10,695,000 after acquiring an additional 9,847 shares during the period. 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.