Analysts Set EOG Resources, Inc. (NYSE:EOG) Price Target at $142.20

Shares of EOG Resources, Inc. (NYSE:EOG) have been given an average recommendation of “Hold” by the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $142.30.

EOG has been the subject of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Evercore ISI dropped their price target on 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 cut their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Finally, Barclays cut their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd.

EOG Resources Stock Down 1.0 %

Shares of NYSE EOG opened at $135.19 on Friday. The company has a market cap of $76.04 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.57 and a beta of 1.28. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a 50-day moving average price of $126.90 and a two-hundred day moving average price of $126.03.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.88%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

EOG Resources declared that its Board of Directors has initiated a stock buyback program 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 programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of EOG. Capital World Investors increased its stake in EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after buying an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EOG Resources during the second quarter worth about $106,990,000. Capital International Investors raised its holdings in shares of EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after acquiring an additional 766,056 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after acquiring an additional 403,676 shares in the last quarter. 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.