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

EOG Resources (NYSE:EOG) had its price objective upped by Raymond James from $156.00 to $167.00 in a research note published on Thursday morning,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 research reports. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Susquehanna decreased their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Scotiabank decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $147.00 to $149.00 in a research note on Monday. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $144.00.

EOG Resources Price Performance

NYSE EOG opened at $135.32 on Thursday. 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 $76.11 billion, a PE ratio of 10.90, a P/E/G ratio of 3.58 and a beta of 1.28. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The company’s 50 day simple moving average is $127.61 and its 200 day simple moving average is $126.16.

EOG Resources announced that its board has authorized a stock 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Several hedge funds have recently modified their holdings of EOG. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources during the 2nd quarter worth $28,000. Eastern Bank acquired a new stake in EOG Resources during the 3rd quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.