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

EOG Resources (NYSE:EOG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays reduced their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Citigroup raised their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Mizuho dropped their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Stock Up 1.5 %

EOG opened at $126.57 on Friday. The business has a 50 day moving average price of $127.25 and a two-hundred day moving average price of $126.45. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market cap of $71.19 billion, a PE ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EOG. Northwest Investment Counselors LLC acquired a new position in EOG Resources in the third quarter valued at $26,000. Eastern Bank purchased a new stake in EOG Resources in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in shares of EOG Resources during the 3rd quarter valued at about $31,000. HM Payson & Co. lifted its holdings in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the period. Finally, Matrix Trust Co acquired a new stake in shares of EOG Resources in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

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.