EOG Resources (NYSE:EOG) Earns Hold Rating from Benchmark

EOG Resources (NYSE:EOG)‘s stock had its “hold” rating reiterated by analysts at Benchmark in a report released on Monday,Benzinga reports.

Other research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Raymond James lifted their target price on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Barclays cut their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Morgan Stanley lowered their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $143.48.

EOG Resources Trading Up 1.1 %

NYSE EOG opened at $135.91 on Monday. The company has a market cap of $76.44 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The business’s fifty day moving average is $128.48 and its 200 day moving average is $126.84. 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 declared that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of EOG. Franklin Resources Inc. lifted its stake in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC lifted its stake in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in EOG Resources in the second quarter valued at approximately $106,990,000. Assenagon Asset Management S.A. lifted its stake in EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after purchasing an additional 593,823 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. 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.