Barclays Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price decreased by equities research analysts at Barclays from $148.00 to $146.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s target price indicates a potential upside of 14.97% from the company’s previous close.

Several other analysts have also issued reports on EOG. Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial raised their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Raymond James raised their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.30.

EOG Resources Stock Down 2.8 %

EOG Resources stock opened at $126.99 on Friday. The company has a market capitalization of $71.43 billion, a P/E ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27. The firm’s fifty day simple moving average is $129.30 and its 200-day simple moving average is $127.89. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a 1-year low of $113.83 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Sell-side analysts forecast that EOG Resources will post 11.47 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were 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 of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of EOG Resources during the fourth quarter worth approximately $26,062,000. Heck Capital Advisors LLC bought a new stake in shares of EOG Resources in the fourth quarter worth $78,000. Ameriflex Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth $36,000. American Trust lifted its position in shares of EOG Resources by 7.9% in the fourth quarter. American Trust now owns 29,952 shares of the energy exploration company’s stock worth $3,672,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Ascent Group LLC lifted its position in shares of EOG Resources by 5.5% in the fourth quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company’s stock worth $2,169,000 after purchasing an additional 924 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

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.