EOG Resources (NYSE:EOG) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other analysts also recently weighed in on the company. Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler upped their price target on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $144.14.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $133.10 on Friday. The business has a fifty day simple moving average of $128.36 and a two-hundred day simple moving average of $127.71. The firm has a market capitalization of $74.86 billion, a P/E ratio of 10.72, a P/E/G ratio of 3.55 and a beta of 1.27. 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 12 month low of $109.06 and a 12 month high of $139.67.

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

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently added to or reduced their stakes in EOG. Financial Life Planners purchased a new position in EOG Resources during the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its position in shares of EOG Resources by 149.4% during the 4th 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 in the last quarter. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources during the fourth quarter valued at $25,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the fourth quarter valued at 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 owned by hedge funds and other institutional investors.

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.