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

EOG Resources (NYSE:EOG) had its price objective raised by investment analysts at Citigroup from $127.00 to $134.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. Citigroup’s price objective suggests a potential upside of 1.59% from the stock’s previous close.

EOG has been the subject of several other reports. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. UBS Group cut their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $147.00 to $149.00 in a report on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $144.20.

EOG Resources Price Performance

Shares of EOG stock traded down $0.08 on Tuesday, reaching $131.90. The company’s stock had a trading volume of 742,326 shares, compared to its average volume of 3,123,993. The company has a market capitalization of $74.19 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28. The stock’s fifty day simple moving average is $128.16 and its 200-day simple moving average is $126.16. 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 $108.94 and a 1 year high of $139.67.

EOG Resources announced that its board has approved a stock buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC increased its position in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. raised its stake in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Legal & General Group Plc lifted its holdings in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in EOG Resources by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock worth $563,070,000 after purchasing an additional 258,732 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other 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.