EOG Resources (NYSE:EOG) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of EOG Resources (NYSE:EOG) from a sector perform rating to an outperform rating in a report published on Wednesday morning, MarketBeat reports. They currently have $155.00 price objective on the energy exploration company’s stock, up from their prior price objective of $150.00.

Other research analysts have also issued reports about the stock. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Piper Sandler increased their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Trading Up 0.3 %

NYSE EOG opened at $129.40 on Wednesday. EOG Resources has a one year low of $109.06 and a one year high of $139.67. The company has a 50-day simple moving average of $127.76 and a 200-day simple moving average of $127.39. 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 capitalization of $72.78 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27.

EOG Resources declared that its board has authorized a stock buyback 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board 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 stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction 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. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DRW Securities LLC boosted its holdings in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC boosted its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares during the period. World Investment Advisors LLC bought a new stake in EOG Resources in the 3rd quarter valued at $730,000. Oak Ridge Investments LLC boosted its holdings in EOG Resources by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after purchasing an additional 2,311 shares during the period. Finally, KBC Group NV boosted its holdings in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.