EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

EOG Resources (NYSE:EOG) had its price target boosted by Wells Fargo & Company from $135.00 to $147.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the energy exploration company’s stock.

Several other research analysts have also recently commented on EOG. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Finally, Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Fifteen 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $144.00.

EOG Resources Trading Up 0.3 %

EOG Resources stock traded up $0.38 during midday trading on Thursday, reaching $135.88. 308,826 shares of the stock traded hands, compared to its average volume of 3,114,574. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a 50-day simple moving average of $127.61 and a two-hundred day simple moving average of $126.16. The firm has a market cap of $76.43 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.58 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 2.87%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated 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 owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of EOG Resources by 3.8% in the first quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company’s stock worth $3,822,000 after purchasing an additional 1,092 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in EOG Resources in the 1st quarter valued at about $243,000. Capital International Sarl acquired a new position in EOG Resources during the 1st quarter valued at about $271,000. Canada Pension Plan Investment Board increased its stake in EOG Resources by 67.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after buying an additional 339,480 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in EOG Resources by 23.5% during the first quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after purchasing an additional 400 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.