EOG Resources, Inc. (NYSE:EOG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

EOG Resources, Inc. (NYSE:EOG – Get Free Report) has received a consensus rating of “Moderate Buy” from the twenty-two analysts that are covering the firm, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $143.71.

Several equities research analysts recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. 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. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Mizuho dropped their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th.

Get Our Latest Research Report on EOG Resources

EOG Resources Stock Performance

Shares of EOG stock opened at $131.54 on Monday. The company has a fifty day moving average price of $127.97 and a two-hundred day moving average price of $126.70. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The stock has a market cap of $73.98 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The company also recently disclosed 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. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. This is an increase 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 31.40%.

EOG Resources announced 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 shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently made changes to their positions in the stock. DRW Securities LLC lifted its stake in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the last quarter. Caprock Group LLC lifted its stake in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter valued at $730,000. University of Texas Texas AM Investment Management Co. grew its position in EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after acquiring an additional 10,618 shares during the last quarter. Finally, KBC Group NV increased its holdings in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

(Get Free Report

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.

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