EOG Resources (NYSE:EOG) Given New $135.00 Price Target at Truist Financial

EOG Resources (NYSE:EOG) had its price objective upped by Truist Financial from $115.00 to $135.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a hold rating on the energy exploration company’s stock.

Other equities analysts have also issued reports about the company. Sanford C. Bernstein dropped their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler reduced their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Finally, Susquehanna reduced their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $142.20.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $134.59 on Tuesday. The company has a market cap of $75.70 billion, a P/E ratio of 10.84, a P/E/G ratio of 3.56 and a beta of 1.28. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. 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 firm’s fifty day moving average is $126.25 and its two-hundred day moving average is $126.03.

EOG Resources declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

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

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.