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

EOG Resources (NYSE:EOG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts also recently issued reports about the stock. Barclays decreased their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Evercore ISI reduced their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EOG Resources has an average rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Performance

NYSE EOG opened at $126.57 on Friday. The business’s 50-day simple moving average is $127.25 and its 200-day simple moving average is $126.45. The firm has a market capitalization of $71.19 billion, a P/E ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources announced that its board has initiated 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 purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were 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 in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred 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 completion of the transaction, the director now 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. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the stock. DRW Securities LLC grew its position in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after acquiring an additional 13,324 shares during the last quarter. Caprock Group LLC grew its position in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of EOG Resources during the third quarter valued at approximately $730,000. University of Texas Texas AM Investment Management Co. boosted its position in shares of EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the period. Finally, KBC Group NV grew its holdings in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.