EOG Resources’ (EOG) Hold Rating Reaffirmed at Benchmark

Benchmark reiterated their hold rating on shares of EOG Resources (NYSE:EOG) in a report issued on Tuesday morning,Benzinga reports.

Several other equities analysts have also commented on the company. Morgan Stanley cut their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. KeyCorp dropped their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein dropped their target price on EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $142.20.

EOG Resources Trading Down 0.4 %

EOG opened at $134.59 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $125.97 and its two-hundred day moving average is $126.04. The company has a market capitalization of $75.70 billion, a P/E ratio of 10.84, a PEG 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.

EOG Resources announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in EOG Resources by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after purchasing an additional 146,674 shares during the period. Capital Research Global Investors lifted its stake in shares of EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after purchasing an additional 373,365 shares during the period. Capital World Investors boosted its holdings in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after buying an additional 1,361,538 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after buying an additional 75,194 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after buying an additional 260,727 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.