EOG Resources’ (EOG) Hold Rating Reaffirmed at Benchmark

Benchmark reissued their hold rating on shares of EOG Resources (NYSE:EOG) in a research report sent to investors on Tuesday,Benzinga reports.

A number of other equities research analysts have also issued reports on EOG. Evercore ISI reduced their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Morgan Stanley reduced their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Susquehanna lowered their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. KeyCorp reduced their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Truist Financial lowered their target price on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Thirteen investment 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $142.20.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $133.10 on Tuesday. The firm has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. 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 firm’s 50-day moving average is $125.28 and its two-hundred day moving average is $125.94.

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 given a $0.975 dividend. 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 annualized dividend and a yield of 2.93%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the third quarter worth $26,000. Riverview Trust Co acquired a new position in shares of EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the second quarter valued at about $28,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new position in EOG Resources during the second quarter worth about $30,000. Institutional investors and hedge funds 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.