EOG Resources (NYSE:EOG) Given New $140.00 Price Target at Piper Sandler

EOG Resources (NYSE:EOG) had its target price decreased by Piper Sandler from $149.00 to $140.00 in a research note released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the energy exploration company’s stock.

Several other research firms also recently commented on EOG. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. 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 research report on Wednesday, September 4th. Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and an average target price of $143.50.

EOG Resources Stock Performance

EOG stock opened at $118.22 on Tuesday. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market cap of $66.49 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.39 and a beta of 1.29. The business’s fifty day simple moving average is $128.39 and its two-hundred day simple moving average is $126.33. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.30%. EOG Resources’s dividend payout ratio is presently 31.40%.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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 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 the SEC website. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares during the period. Franklin Resources Inc. grew its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of 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 during the period. Institutional investors and hedge funds 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.