EOG Resources (NYSE:EOG) Lowered to Hold Rating by StockNews.com

EOG Resources (NYSE:EOG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts have also commented on the company. Piper Sandler lowered their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. UBS Group lowered 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. Truist Financial increased their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday. Susquehanna decreased their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, KeyCorp decreased their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Fourteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $142.20.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $134.59 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $75.70 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 3.56 and a beta of 1.28. The business’s 50-day simple moving average is $125.97 and its 200-day simple moving average is $126.04. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new position in EOG Resources in the third quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at $28,000. Eastern Bank acquired a new position in shares of EOG Resources in the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP acquired a new position in EOG Resources in the 2nd quarter worth $30,000. 89.91% of the stock is owned by institutional investors.

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.