Citigroup Increases EOG Resources (NYSE:EOG) Price Target to $134.00

EOG Resources (NYSE:EOG) had its target price raised by investment analysts at Citigroup from $127.00 to $134.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. Citigroup’s price objective would suggest a potential upside of 0.70% from the stock’s previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Truist Financial lifted their target price on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $144.20.

EOG Resources Stock Up 0.4 %

Shares of NYSE:EOG opened at $133.07 on Tuesday. The firm has a market capitalization of $74.85 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28. 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 $108.94 and a 52-week high of $139.67. The firm has a fifty day moving average of $128.52 and a 200 day moving average of $126.22.

EOG Resources announced that its Board of Directors has approved a stock 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, 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 value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of EOG Resources

A number of hedge funds have recently modified their holdings of EOG. Jacobs Levy Equity Management Inc. purchased a new stake in EOG Resources in the first quarter worth about $312,000. B. Riley Wealth Advisors Inc. increased its position in EOG Resources by 32.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock valued at $1,871,000 after buying an additional 3,613 shares in the last quarter. Tidal Investments LLC raised its stake in EOG Resources by 13.3% during the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after buying an additional 5,972 shares during the last quarter. Hancock Whitney Corp bought a new stake in EOG Resources in the first quarter worth $208,000. Finally, iA Global Asset Management Inc. grew its stake in shares of EOG Resources by 13.8% in the first quarter. iA Global Asset Management Inc. now owns 82,063 shares of the energy exploration company’s stock worth $10,491,000 after acquiring an additional 9,948 shares during the last quarter. 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.