Truist Financial Boosts EOG Resources (NYSE:EOG) Price Target to $135.00

EOG Resources (NYSE:EOG) had its price objective increased by Truist Financial from $115.00 to $135.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. Wolfe Research initiated coverage on EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. KeyCorp decreased their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Sanford C. Bernstein cut their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Fourteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average price target of $142.20.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $134.59 on Tuesday. The company has a market capitalization of $75.70 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company’s fifty day moving average price is $126.25 and its 200 day moving average price is $126.03. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67.

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 given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources declared that its board has approved a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Large investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the 3rd quarter valued at about $26,000. Riverview Trust Co acquired a new position in EOG Resources during the second quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources during the second quarter valued at approximately $28,000. Eastern Bank bought a new position in shares of EOG Resources in the third quarter valued at approximately $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources in the second quarter worth $30,000. 89.91% of the stock is currently owned by institutional investors.

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.