EOG Resources, Inc. (NYSE:EOG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of EOG Resources, Inc. (NYSE:EOG) have been given an average rating of “Moderate Buy” by the twenty-one analysts that are covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $144.85.

A number of brokerages recently issued reports on EOG. Truist Financial increased their price objective on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their price objective on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Finally, Bank of America reissued a “neutral” rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This 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 this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of EOG Resources

A number of institutional investors have recently modified their holdings of EOG. Financial Life Planners purchased a new stake in shares of EOG Resources during the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its holdings in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares during the period. Mainstream Capital Management LLC purchased a new stake in EOG Resources in the fourth quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources in the fourth quarter worth about $27,000. Finally, Keystone Financial Group Inc. purchased a new stake in EOG Resources in the fourth quarter worth about $27,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Up 0.3 %

Shares of EOG stock opened at $133.50 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a 52-week low of $111.13 and a 52-week high of $139.67. The company has a market capitalization of $75.08 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The business’s fifty day moving average is $128.53 and its 200 day moving average is $127.83.

EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.