EOG Resources (NYSE:EOG) Price Target Raised to $167.00 at Raymond James

by · The Markets Daily

EOG Resources (NYSE:EOG – Free Report) had its price target raised by Raymond James from $156.00 to $167.00 in a report released on Thursday,Benzinga reports. Raymond James currently has a strong-buy rating on the energy exploration company’s stock.

EOG has been the topic of several other reports. Barclays decreased their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley decreased their price objective on 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 dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.00.

Read Our Latest Research Report on EOG

EOG Resources Stock Up 0.6 %

Shares of EOG stock opened at $136.35 on Thursday. EOG Resources has a one year low of $108.94 and a one 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 stock has a fifty day moving average price of $127.95 and a 200 day moving average price of $126.18. The stock has a market cap of $76.69 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 3.59 and a beta of 1.28.

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 issued a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.86%. EOG Resources’s dividend payout ratio is currently 29.31%.

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

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its stake in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after buying an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $106,990,000. Legal & General Group Plc boosted its stake in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the last quarter. National Bank of Canada FI grew its holdings in EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after purchasing an additional 343,527 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in EOG Resources by 67.3% in the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after purchasing an additional 339,480 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

About EOG Resources

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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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