EOG Resources (NYSE:EOG) Raised to Buy at StockNews.com

StockNews.com upgraded shares of EOG Resources (NYSE:EOG - Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other analysts also recently issued reports on the company. Bank of America reissued a "neutral" rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Benchmark reissued a "hold" rating on shares of EOG Resources in a research report on Monday, January 13th. Raymond James upped their price target on EOG Resources from $156.00 to $167.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Truist Financial lifted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a report on Monday, January 13th. Finally, Wells Fargo & Company upgraded shares of EOG Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $143.48.

EOG Resources Stock Down 1.4 %

Shares of NYSE:EOG traded down $1.97 during trading on Wednesday, hitting $134.07. 3,376,455 shares of the company's stock traded hands, compared to its average volume of 3,326,396. 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 company has a 50-day moving average price of $129.10 and a 200-day moving average price of $127.22. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market cap of $75.41 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 3.77 and a beta of 1.29.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the firm posted $3.44 earnings per share. As a group, research analysts forecast that EOG Resources will post 11.45 EPS for the current fiscal year.

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

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio (DPR) is currently 31.40%.

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 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 document filed with the SEC, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the 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 owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Insight Inv LLC increased its stake in EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company's stock valued at $1,154,000 after acquiring an additional 75 shares during the last quarter. Cape ANN Savings Bank increased its stake in shares of EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company's stock valued at $1,067,000 after purchasing an additional 79 shares during the last quarter. Everpar Advisors LLC raised its holdings in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company's stock worth $293,000 after buying an additional 83 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of EOG Resources by 3.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company's stock worth $358,000 after buying an additional 84 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of EOG Resources by 10.0% during the 4th quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company's stock worth $114,000 after buying an additional 84 shares during the last quarter. 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.