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 research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the energy exploration company’s stock.

A number of other analysts have also recently weighed in on the company. KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Scotiabank reduced their price objective 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.20.

EOG Resources Stock Up 0.1 %

EOG Resources stock opened at $133.28 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $74.96 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.54 and a beta of 1.28. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The business has a fifty day moving average price of $128.82 and a 200-day moving average price of $126.30.

EOG Resources declared that its Board of Directors has authorized a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm 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 dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Hedge funds have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the third quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in EOG Resources during the second quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources during the second quarter worth approximately $28,000. Eastern Bank acquired a new stake in EOG Resources during the third quarter worth approximately $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources during the second quarter worth approximately $30,000. 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.