EOG Resources (NYSE:EOG) Price Target Lowered to $160.00 at UBS Group

EOG Resources (NYSE:EOG) had its target price cut by UBS Group from $165.00 to $160.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price target suggests a potential upside of 33.51% from the stock’s current price.

EOG has been the topic of a number of other research reports. Mizuho decreased their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Finally, Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Twelve investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.10.

EOG Resources Stock Performance

EOG traded down $0.70 during trading hours on Tuesday, reaching $119.85. The company’s stock had a trading volume of 1,179,038 shares, compared to its average volume of 2,981,625. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company’s 50-day moving average is $129.31 and its 200-day moving average is $127.85. EOG Resources has a 52 week low of $115.40 and a 52 week high of $139.67. The firm has a market cap of $67.41 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. On average, equities analysts forecast that EOG Resources will post 11.47 EPS for the current year.

EOG Resources declared that its Board of Directors has initiated a share 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 repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in EOG Resources in the 4th quarter worth $26,062,000. Heck Capital Advisors LLC bought a new position in EOG Resources in the fourth quarter worth about $78,000. Ameriflex Group Inc. bought a new stake in EOG Resources during the 4th quarter valued at approximately $36,000. American Trust grew its holdings in shares of EOG Resources by 7.9% during the 4th quarter. American Trust now owns 29,952 shares of the energy exploration company’s stock worth $3,672,000 after acquiring an additional 2,183 shares during the period. Finally, Ascent Group LLC raised its position in shares of EOG Resources by 5.5% in the 4th quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company’s stock worth $2,169,000 after acquiring an additional 924 shares in 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.