Raymond James Increases EOG Resources (NYSE:EOG) Price Target to $175.00

EOG Resources (NYSE:EOG) had its price target upped by equities researchers at Raymond James from $167.00 to $175.00 in a report released on Thursday,Benzinga reports. The firm presently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James’ price target points to a potential upside of 32.85% from the company’s current price.

Several other brokerages have also commented on EOG. Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. KeyCorp cut their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays cut their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Evercore ISI cut their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Thirteen research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $143.86.

EOG Resources Price Performance

EOG Resources stock opened at $131.73 on Thursday. The firm has a fifty day moving average of $129.07 and a 200-day moving average of $127.31. 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 has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a market capitalization of $74.09 billion, a P/E ratio of 10.61, a PEG ratio of 3.68 and a beta of 1.29.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the business posted $3.44 EPS. As a group, analysts predict that EOG Resources will post 11.45 EPS for the current year.

EOG Resources announced that its board has approved a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

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

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. RBA Wealth Management LLC increased its stake in EOG Resources by 4.4% in the 4th quarter. RBA Wealth Management LLC now owns 20,028 shares of the energy exploration company’s stock valued at $2,455,000 after buying an additional 846 shares during the last quarter. Patron Partners LLC increased its position in shares of EOG Resources by 10.7% in the fourth quarter. Patron Partners LLC now owns 2,461 shares of the energy exploration company’s stock valued at $302,000 after acquiring an additional 238 shares during the last quarter. Columbus Macro LLC raised its holdings in EOG Resources by 33.9% during the fourth quarter. Columbus Macro LLC now owns 2,412 shares of the energy exploration company’s stock worth $296,000 after acquiring an additional 610 shares in the last quarter. Childress Capital Advisors LLC acquired a new position in EOG Resources during the fourth quarter valued at approximately $211,000. Finally, Fourpath Capital Management LLC bought a new position in EOG Resources in the fourth quarter valued at approximately $486,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.