EOG Resources (NYSE:EOG) Upgraded 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 report published on Saturday.

Other research analysts also recently issued research reports about the company. Piper Sandler decreased their price objective on EOG Resources from $149.00 to $140.00 and set a "neutral" rating on the stock 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 target price on the stock in a research note on Friday, January 3rd. Wells Fargo & Company upgraded shares of EOG Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Finally, KeyCorp lowered their target price on shares of EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.71.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $3.08 during midday trading on Friday, hitting $131.54. The company had a trading volume of 4,882,823 shares, compared to its average volume of 3,218,920. The company has a market cap of $73.98 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a fifty day moving average of $127.97 and a two-hundred day moving average of $126.69. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

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

EOG Resources Increases Dividend

The firm 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 dividend of $0.975 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. EOG Resources's dividend payout ratio is presently 29.31%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were 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 $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company's stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter valued at about $26,000. Eastern Bank purchased a new position in shares of EOG Resources during the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources during the third quarter valued at approximately $31,000. HM Payson & Co. lifted its holdings in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company's stock worth $40,000 after buying an additional 220 shares during the period. Finally, Matrix Trust Co bought a new position in shares of EOG Resources during the 3rd quarter worth $43,000. Hedge funds and other institutional investors 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.