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

EOG Resources, Inc. (NYSE:EOG) has received a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $145.80.

EOG has been the topic of several research reports. Raymond James upped their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Piper Sandler upped their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. 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 note on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of EOG Resources

Hedge funds have recently bought and sold shares of the stock. Financial Life Planners bought a new stake in EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its holdings in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. Mainstream Capital Management LLC bought a new stake in EOG Resources in the 4th quarter valued at $25,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources in the 4th quarter valued at $27,000. Finally, Keystone Financial Group Inc. bought a new stake in EOG Resources in the 4th quarter valued at $27,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Down 5.2 %

Shares of NYSE:EOG opened at $120.28 on Tuesday. 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 market cap of $67.65 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. EOG Resources has a 52 week low of $115.40 and a 52 week high of $139.67. The firm has a 50 day simple moving average of $129.31 and a 200 day simple moving average of $127.85.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, research analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

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

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a yield of 3.24%. EOG Resources’s payout ratio is presently 34.73%.

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.