Royal Bank of Canada Reiterates “Sector Perform” Rating for EOG Resources (NYSE:EOG)

EOG Resources (NYSE:EOG)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $150.00 target price on the energy exploration company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.49% from the company’s previous close.

A number of other brokerages have also weighed in on EOG. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Citigroup upped their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Scotiabank lowered their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Mizuho dropped 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. Thirteen equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $143.71.

EOG Resources Stock Up 0.9 %

Shares of EOG Resources stock traded up $1.10 during trading on Monday, reaching $127.67. The company’s stock had a trading volume of 447,797 shares, compared to its average volume of 2,093,510. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a 50-day simple moving average of $127.25 and a two-hundred day simple moving average of $126.54. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market cap of $71.81 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 3.39 and a beta of 1.29.

EOG Resources declared that its Board of Directors has initiated 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 buy up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

A number of institutional investors have recently made changes to their positions in the company. DRW Securities LLC grew its stake in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC boosted 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 valued at $1,489,000 after buying an additional 862 shares during the period. World Investment Advisors LLC acquired a new position in shares of EOG Resources in the third quarter worth $730,000. University of Texas Texas AM Investment Management Co. raised its stake in shares of EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after acquiring an additional 10,618 shares in the last quarter. Finally, KBC Group NV boosted its holdings in EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the period. 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.