EOG Resources (NYSE:EOG) Given New $179.00 Price Target at Piper Sandler

EOG Resources (NYSE:EOGGet Rating) had its price objective hoisted by Piper Sandler from $165.00 to $179.00 in a research report released on Thursday, The Fly reports. Piper Sandler currently has an overweight rating on the energy exploration company’s stock.

EOG has been the subject of several other research reports. KeyCorp initiated coverage on shares of EOG Resources in a research note on Monday, September 19th. They issued an overweight rating and a $157.00 target price for the company. Susquehanna lifted their target price on shares of EOG Resources from $162.00 to $172.00 in a research note on Monday, November 7th. StockNews.com initiated coverage on shares of EOG Resources in a research note on Wednesday, October 12th. They issued a hold rating for the company. Jefferies Financial Group initiated coverage on shares of EOG Resources in a research note on Wednesday, October 19th. They issued a buy rating and a $158.00 target price for the company. Finally, BMO Capital Markets lifted their target price on shares of EOG Resources from $145.00 to $160.00 in a research note on Friday, November 11th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $156.23.

EOG Resources Stock Performance

NYSE EOG opened at $141.02 on Thursday. EOG Resources has a 52-week low of $80.67 and a 52-week high of $150.88. The company has a 50-day simple moving average of $128.84 and a 200 day simple moving average of $121.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.62 and a current ratio of 1.78. The company has a market capitalization of $82.83 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.34 and a beta of 1.54.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 17th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 13th. EOG Resources’s payout ratio is presently 23.57%.

Insider Transactions at EOG Resources

In other news, EVP Kenneth W. Boedeker sold 1,995 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $145.09, for a total value of $289,454.55. Following the completion of the sale, the executive vice president now directly owns 20,978 shares in the company, valued at approximately $3,043,698.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Kenneth W. Boedeker sold 1,995 shares of EOG Resources stock in a transaction on Monday, November 7th. The shares were sold at an average price of $145.09, for a total value of $289,454.55. Following the transaction, the executive vice president now directly owns 20,978 shares of the company’s stock, valued at $3,043,698.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Lloyd W. Helms, Jr. sold 2,720 shares of EOG Resources stock in a transaction on Monday, November 7th. The stock was sold at an average price of $146.08, for a total transaction of $397,337.60. Following the completion of the transaction, the chief operating officer now directly owns 156,368 shares in the company, valued at $22,842,237.44. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of EOG Resources by 1.1% in the third quarter. Vanguard Group Inc. now owns 53,571,626 shares of the energy exploration company’s stock worth $5,985,558,000 after buying an additional 584,133 shares during the period. BlackRock Inc. increased its position in EOG Resources by 1.1% during the 1st quarter. BlackRock Inc. now owns 46,646,390 shares of the energy exploration company’s stock valued at $5,561,649,000 after purchasing an additional 528,077 shares during the period. State Street Corp increased its position in EOG Resources by 1.4% during the 1st quarter. State Street Corp now owns 36,748,452 shares of the energy exploration company’s stock valued at $4,381,518,000 after purchasing an additional 502,626 shares during the period. JPMorgan Chase & Co. increased its position in EOG Resources by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 21,417,102 shares of the energy exploration company’s stock valued at $2,553,563,000 after purchasing an additional 491,880 shares during the period. Finally, FMR LLC increased its position in EOG Resources by 22.8% during the 2nd quarter. FMR LLC now owns 18,286,986 shares of the energy exploration company’s stock valued at $2,019,614,000 after purchasing an additional 3,399,315 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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