Citigroup Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price objective lifted by Citigroup from $127.00 to $134.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the energy exploration company’s stock.

Several other brokerages also recently commented on EOG. Evercore ISI cut their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Susquehanna dropped their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.20.

EOG Resources Trading Up 0.4 %

Shares of EOG stock opened at $132.54 on Tuesday. The firm has a market capitalization of $74.55 billion, a P/E ratio of 10.67, a P/E/G ratio of 3.62 and a beta of 1.28. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. 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 simple moving average is $128.34 and its 200 day simple moving average is $126.18.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.94%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of the business. Insight Inv LLC grew its position in shares of EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after acquiring an additional 75 shares during the period. Cape ANN Savings Bank lifted its stake in shares of EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares in the last quarter. CVA Family Office LLC lifted its stake in shares of EOG Resources by 11.0% during the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after buying an additional 81 shares in the last quarter. Bailard Inc. lifted its stake in shares of EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares in the last quarter. Finally, Everpar Advisors LLC lifted its stake in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after buying an additional 83 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.