EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Piper Sandler Analyst Says

EOG Resources (NYSE:EOG - Free Report) had its target price increased by Piper Sandler from $140.00 to $141.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the energy exploration company's stock.

EOG has been the subject of several other reports. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Barclays decreased their price objective 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. StockNews.com upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Benchmark reiterated a "hold" rating on shares of EOG Resources in a research note on Monday, January 13th. Finally, Raymond James upped their target price on EOG Resources from $167.00 to $175.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $143.90.

EOG Resources Stock Performance

EOG stock traded down $0.02 during trading on Wednesday, reaching $130.23. 1,851,938 shares of the stock were exchanged, compared to its average volume of 3,158,380. 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 stock has a 50 day simple moving average of $128.82 and a 200-day simple moving average of $127.41. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market capitalization of $73.25 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $6.03 billion. During the same quarter last year, the business earned $3.44 earnings per share. As a group, sell-side analysts anticipate that EOG Resources will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced 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 2.99%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's payout ratio is presently 31.40%.

EOG Resources announced that its Board of Directors has authorized a share buyback plan 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 plans are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently modified their holdings of the business. DRW Securities LLC grew its stake in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock valued at $3,299,000 after acquiring an additional 13,324 shares during the period. Caprock Group LLC boosted its stake in shares of EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock worth $1,489,000 after acquiring an additional 862 shares during the period. World Investment Advisors LLC acquired a new position in EOG Resources in the 3rd quarter valued at about $730,000. Oak Ridge Investments LLC boosted its position in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company's stock valued at $5,059,000 after acquiring an additional 2,311 shares during the period. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company's stock valued at $1,370,000 after acquiring an additional 10,618 shares in the last quarter. Institutional investors and hedge funds 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.