Royal Bank of Canada Reiterates “Sector Perform” Rating for EOG Resources (NYSE:EOG)

Royal Bank of Canada reissued their sector perform rating on shares of EOG Resources (NYSE:EOG) in a research note published on Monday morning,Benzinga reports. They currently have a $150.00 target price on the energy exploration company’s stock.

EOG has been the subject of a number of other reports. Truist Financial upped their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Scotiabank decreased their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Mizuho cut their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, UBS Group decreased their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.71.

EOG Resources Stock Up 0.6 %

NYSE EOG opened at $128.31 on Monday. The company has a market cap of $72.17 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.39 and a beta of 1.29. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $127.63 and a 200-day moving average of $126.63.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

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

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s 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 transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently modified their holdings of EOG. Foundations Investment Advisors LLC bought a new position in shares of EOG Resources in the 2nd quarter worth about $209,000. Candriam S.C.A. increased its holdings in EOG Resources by 15.5% in the second quarter. Candriam S.C.A. now owns 36,739 shares of the energy exploration company’s stock worth $4,624,000 after purchasing an additional 4,925 shares in the last quarter. Savant Capital LLC lifted its stake in EOG Resources by 44.1% in the second quarter. Savant Capital LLC now owns 16,118 shares of the energy exploration company’s stock valued at $2,029,000 after buying an additional 4,933 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of EOG Resources by 8.9% during the 2nd quarter. Lake Street Advisors Group LLC now owns 3,153 shares of the energy exploration company’s stock worth $397,000 after buying an additional 257 shares in the last quarter. Finally, Norden Group LLC grew its position in shares of EOG Resources by 11.5% during the 2nd quarter. Norden Group LLC now owns 4,362 shares of the energy exploration company’s stock worth $549,000 after buying an additional 449 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.