EOG Resources (NYSE:EOG) Stock Rating Upgraded by Wolfe Research

EOG Resources (NYSE:EOG) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday, MarketBeat.com reports. The firm presently has a $143.00 target price on the energy exploration company’s stock. Wolfe Research’s target price suggests a potential upside of 12.98% from the company’s previous close.

A number of other analysts have also issued reports on EOG. Truist Financial boosted their price target on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Mizuho lowered their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Scotiabank dropped 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. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Up 1.5 %

Shares of EOG opened at $126.57 on Friday. The firm has a market capitalization of $71.19 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a 50-day moving average of $127.25 and a 200 day moving average of $126.45.

EOG Resources announced that its board has authorized a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently bought and sold shares of EOG. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources during the third quarter worth $26,000. Eastern Bank acquired a new stake in EOG Resources during the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased 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% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares during the period. Finally, Matrix Trust Co purchased a new stake in shares of EOG Resources in the third quarter worth about $43,000. 89.91% of the stock is owned by hedge funds and other 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.