EOG Resources (NYSE:EOG) Earns Sector Perform Rating from Royal Bank of Canada

EOG Resources (NYSE:EOG)‘s stock had its “sector perform” rating reaffirmed by Royal Bank of Canada in a report released on Monday,Benzinga reports. They currently have a $150.00 price objective on the energy exploration company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 17.44% from the company’s previous close.

Several other research analysts have also recently commented on the company. UBS Group cut their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler decreased their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Trading Up 1.1 %

NYSE EOG opened at $127.72 on Monday. The company’s fifty day simple moving average is $127.48 and its 200-day simple moving average is $126.61. The stock has a market cap of $71.84 billion, a P/E ratio of 10.28, a PEG ratio of 3.39 and a beta of 1.29. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. 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 declared that its board has approved a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norway Savings Bank increased its holdings in shares of EOG Resources by 5.1% in the fourth quarter. Norway Savings Bank now owns 8,373 shares of the energy exploration company’s stock valued at $1,026,000 after buying an additional 410 shares in the last quarter. Fortem Financial Group LLC raised its position in shares of EOG Resources by 1.8% during the fourth quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock worth $1,132,000 after purchasing an additional 164 shares during the period. CWA Asset Management Group LLC boosted its position in shares of EOG Resources by 108.3% in the 4th quarter. CWA Asset Management Group LLC now owns 17,647 shares of the energy exploration company’s stock valued at $2,163,000 after purchasing an additional 9,175 shares during the period. Everence Capital Management Inc. increased its stake in EOG Resources by 73.7% in the 4th quarter. Everence Capital Management Inc. now owns 30,780 shares of the energy exploration company’s stock worth $3,773,000 after purchasing an additional 13,060 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in EOG Resources by 7.4% during the fourth quarter. GAMMA Investing LLC now owns 8,609 shares of the energy exploration company’s stock valued at $1,055,000 after buying an additional 594 shares in the last quarter. 89.91% of the stock is 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.