EOG Resources’ (EOG) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of EOG Resources (NYSE:EOG) in a research note released on Monday,Benzinga reports. The brokerage currently has a $150.00 price target on the energy exploration company’s stock.

EOG has been the subject of several other research reports. Mizuho decreased their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Truist Financial boosted their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley dropped 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. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.71.

EOG Resources Stock Up 0.6 %

EOG Resources stock opened at $128.31 on Monday. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week 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 has a market capitalization of $72.17 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.39 and a beta of 1.29. The company’s 50 day simple moving average is $127.63 and its 200 day simple moving average is $126.63.

EOG Resources declared that its Board of Directors has authorized a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 31.40%.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several large investors have recently modified their holdings of EOG. Douglas Lane & Associates LLC raised its holdings in EOG Resources by 2.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock valued at $62,699,000 after acquiring an additional 10,404 shares during the period. Fulton Bank N.A. grew its position in shares of EOG Resources by 25.6% in the fourth quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock valued at $646,000 after purchasing an additional 1,073 shares during the last quarter. Norway Savings Bank increased its stake in shares of EOG Resources by 5.1% during the fourth quarter. Norway Savings Bank now owns 8,373 shares of the energy exploration company’s stock worth $1,026,000 after purchasing an additional 410 shares during the period. Fortem Financial Group LLC lifted its holdings in EOG Resources by 1.8% during the 4th quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock worth $1,132,000 after purchasing an additional 164 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in EOG Resources by 108.3% in the 4th quarter. CWA Asset Management Group LLC now owns 17,647 shares of the energy exploration company’s stock valued at $2,163,000 after purchasing an additional 9,175 shares during the period. 89.91% of the stock is 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.