EOG Resources (NYSE:EOG) Given New $111.00 Price Target at Truist

EOG Resources (NYSE:EOG) had its price objective hoisted by Truist from $100.00 to $111.00 in a research report report published on Friday morning, The Fly reports. They currently have a hold rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. Evercore ISI reaffirmed a buy rating on shares of EOG Resources in a research note on Sunday, November 7th. US Capital Advisors upgraded EOG Resources from a hold rating to an overweight rating in a report on Friday, November 12th. Truist Securities upped their price target on EOG Resources from $79.00 to $100.00 and gave the stock a hold rating in a research note on Thursday, October 7th. Piper Sandler upped their price target on EOG Resources from $110.00 to $118.00 and gave the stock an overweight rating in a research note on Thursday, October 21st. Finally, Morgan Stanley reduced their price target on EOG Resources from $122.00 to $121.00 and set an equal weight rating on the stock in a research note on Monday, December 13th. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of Buy and a consensus price target of $103.65.

EOG stock opened at $105.63 on Friday. EOG Resources has a twelve month low of $50.08 and a twelve month high of $106.02. The company has a quick ratio of 1.96, a current ratio of 2.11 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $61.80 billion, a PE ratio of 20.43, a PEG ratio of 0.49 and a beta of 2.02. The stock has a 50-day simple moving average of $91.08 and a two-hundred day simple moving average of $82.61.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, November 4th. The energy exploration company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.12. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.35 billion. EOG Resources had a return on equity of 17.36% and a net margin of 19.38%. EOG Resources’s revenue for the quarter was up 112.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that EOG Resources will post 8.75 EPS for the current fiscal year.

EOG Resources announced that its board has approved a stock repurchase plan on Thursday, November 4th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, January 13th. This is a boost from EOG Resources’s previous quarterly dividend of $0.41. This represents a $3.00 annualized dividend and a dividend yield of 2.84%. EOG Resources’s dividend payout ratio (DPR) is 58.03%.

In other EOG Resources news, COO Lloyd W. Helms, Jr. sold 1,470 shares of the stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $95.55, for a total value of $140,458.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael T. Kerr bought 50,000 shares of the stock in a transaction on Friday, November 26th. The stock was purchased at an average cost of $86.00 per share, for a total transaction of $4,300,000.00. The disclosure for this purchase can be found here. Insiders have sold 18,342 shares of company stock worth $1,748,082 over the last ninety days. 0.40% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. West Oak Capital LLC lifted its holdings in EOG Resources by 4.0% in the fourth quarter. West Oak Capital LLC now owns 2,611 shares of the energy exploration company’s stock valued at $232,000 after acquiring an additional 100 shares during the period. AE Wealth Management LLC grew its holdings in EOG Resources by 0.8% during the 3rd quarter. AE Wealth Management LLC now owns 14,503 shares of the energy exploration company’s stock valued at $1,164,000 after buying an additional 114 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in EOG Resources by 9.3% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,395 shares of the energy exploration company’s stock valued at $112,000 after buying an additional 119 shares in the last quarter. Accel Wealth Management grew its holdings in EOG Resources by 8.2% during the 3rd quarter. Accel Wealth Management now owns 1,617 shares of the energy exploration company’s stock valued at $130,000 after buying an additional 123 shares in the last quarter. Finally, Field & Main Bank grew its holdings in EOG Resources by 3.2% during the 3rd quarter. Field & Main Bank now owns 4,235 shares of the energy exploration company’s stock valued at $340,000 after buying an additional 130 shares in the last quarter. 85.95% of the stock is currently owned by institutional investors.

About EOG Resources

EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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