EOG Resources, Inc. (NYSE:EOG) Receives Average Rating of "Hold" from Brokerages

Shares of EOG Resources, Inc. (NYSE:EOG - Get Free Report) have earned an average rating of "Hold" from the twenty-two analysts that are currently covering the stock, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $142.20.

A number of research firms have recently issued reports on EOG. StockNews.com downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Truist Financial raised their price objective on EOG Resources from $115.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Piper Sandler cut their target price on EOG Resources from $154.00 to $147.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company's stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company's stock, valued at $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EOG. Capital World Investors raised its position in shares of EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company's stock valued at $3,423,869,000 after acquiring an additional 1,361,538 shares in the last quarter. Fisher Asset Management LLC increased its position in EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company's stock valued at $147,621,000 after acquiring an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EOG Resources during the second quarter valued at about $106,990,000. Capital International Investors lifted its stake in shares of EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock worth $1,478,401,000 after acquiring an additional 766,056 shares during the period. Finally, Legal & General Group Plc lifted its position in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG traded down $0.63 during trading hours on Friday, hitting $134.56. The stock had a trading volume of 2,279,909 shares, compared to its average volume of 2,702,890. 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 stock has a market cap of $75.68 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company's fifty day simple moving average is $126.25 and its 200 day simple moving average is $125.99.

EOG Resources announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's payout ratio is currently 31.40%.

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.