EOG Resources (NYSE:EOG) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of EOG Resources (NYSE:EOG) from an equal weight rating to an overweight rating in a research report released on Tuesday, MarketBeat reports. The firm currently has $150.00 target price on the energy exploration company’s stock, up from their prior target price of $147.00.

Other equities research analysts have also recently issued research reports about the stock. Mizuho decreased their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday. 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. KeyCorp dropped their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and increased their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Finally, UBS Group dropped their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Fourteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $143.50.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $123.14 on Tuesday. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a market capitalization of $69.26 billion, a PE ratio of 9.91, a P/E/G ratio of 3.39 and a beta of 1.29. 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 has a 50-day simple moving average of $128.90 and a two-hundred day simple moving average of $126.44.

EOG Resources declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The business 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 dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently modified their holdings of the business. Insight Inv LLC boosted its position in EOG Resources by 0.8% during the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its position in shares of EOG Resources by 0.9% during 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 buying an additional 79 shares in the last quarter. Bailard Inc. grew its stake in EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after acquiring an additional 81 shares during the period. Everpar Advisors LLC increased its holdings in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. raised its position in EOG Resources by 0.7% during the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares during the period. 89.91% of the stock is currently 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.