EOG Resources (NYSE:EOG) Price Target Raised to $175.00 at Raymond James

EOG Resources (NYSE:EOG) had its price objective boosted by Raymond James from $167.00 to $175.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a strong-buy rating on the energy exploration company’s stock.

EOG has been the topic of a number of other research reports. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a report on Monday, January 6th. KeyCorp reduced their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $143.86.

EOG Resources Stock Performance

Shares of EOG opened at $133.91 on Thursday. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $75.32 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 3.76 and a beta of 1.29. The stock has a 50-day moving average price of $129.09 and a 200-day moving average price of $127.27.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.16. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period in the previous year, the business posted $3.44 earnings per share. As a group, equities analysts forecast that EOG Resources will post 11.45 earnings per share for the current fiscal year.

EOG Resources declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.91%. EOG Resources’s payout ratio is currently 31.40%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EOG. DRW Securities LLC raised its position in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $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 third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of EOG Resources during the third quarter valued at approximately $730,000. Oak Ridge Investments LLC increased its position in shares of EOG Resources by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after acquiring an additional 2,311 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in EOG Resources by 3,976.8% in 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. Hedge funds and other institutional investors 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.