Analysts Set EOG Resources, Inc. (NYSE:EOG) PT at $144.20

EOG Resources, Inc. (NYSE:EOG - Get Free Report) has been given an average recommendation of "Hold" by the twenty-two research firms that are presently covering the firm, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $144.20.

EOG has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada reissued a "sector perform" rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. StockNews.com cut shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, November 16th. Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Finally, Scotiabank cut their target price on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th.

EOG Resources Stock Performance

EOG stock traded down $0.96 during midday trading on Thursday, reaching $126.60. 2,169,504 shares of the company were exchanged, compared to its average volume of 3,125,266. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 3.40 and a beta of 1.29. The business has a 50-day moving average price of $129.44 and a two-hundred day moving average price of $126.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.08%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio is 31.40%.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the company'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 value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On EOG Resources

Several large investors have recently modified their holdings of EOG. Inspire Trust Co. N.A. boosted its holdings in EOG Resources by 11.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 7,600 shares of the energy exploration company's stock valued at $934,000 after purchasing an additional 772 shares during the period. Franklin Resources Inc. grew its position in 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 valued at $694,717,000 after acquiring an additional 2,076,134 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of EOG Resources by 105.1% during the 3rd quarter. Synovus Financial Corp now owns 97,356 shares of the energy exploration company's stock valued at $11,968,000 after purchasing an additional 49,899 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of EOG Resources by 4.7% in the 3rd quarter. Tidal Investments LLC now owns 58,790 shares of the energy exploration company's stock valued at $7,227,000 after acquiring an additional 2,634 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of EOG Resources by 26.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 71,766 shares of the energy exploration company's stock worth $8,822,000 after buying an additional 15,186 shares during the period. Hedge funds and other institutional investors 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.