EOG Resources (NYSE:EOG) Price Target Cut to $140.00 by Analysts at Piper Sandler

EOG Resources (NYSE:EOG - Free Report) had its price target lowered by Piper Sandler from $149.00 to $140.00 in a research note released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the energy exploration company's stock.

A number of other analysts have also recently issued reports on EOG. KeyCorp decreased their target price on EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, September 12th. Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. Benchmark reaffirmed a "hold" rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Fourteen 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. According to MarketBeat.com, EOG Resources has a consensus rating of "Hold" and a consensus price target of $143.50.

EOG Resources Trading Down 1.2 %

Shares of EOG stock traded down $1.48 on Tuesday, reaching $123.14. 3,820,082 shares of the stock were exchanged, compared to its average volume of 3,122,063. 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 $69.26 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. The firm has a 50 day moving average of $129.04 and a two-hundred day moving average of $126.45. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources announced that its board has initiated a stock buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.17%. This is a boost from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio is presently 31.40%.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. Dakota Wealth Management raised its stake in EOG Resources by 20.8% during the 2nd quarter. Dakota Wealth Management now owns 2,668 shares of the energy exploration company's stock valued at $336,000 after acquiring an additional 460 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of EOG Resources during the second quarter valued at about $263,000. Vicus Capital lifted its holdings in EOG Resources by 49.7% in the second quarter. Vicus Capital now owns 3,202 shares of the energy exploration company's stock worth $403,000 after purchasing an additional 1,063 shares during the period. Tevis Investment Management grew its position in EOG Resources by 19.6% in the 2nd quarter. Tevis Investment Management now owns 15,814 shares of the energy exploration company's stock valued at $1,990,000 after buying an additional 2,587 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in EOG Resources by 4.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 20,475 shares of the energy exploration company's stock valued at $2,577,000 after buying an additional 852 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

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.