EOG Resources (NYSE:EOG) Given “Neutral” Rating at Bank of America

EOG Resources (NYSE:EOG)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America in a report released on Monday, MarketBeat reports. They currently have a $144.00 target price on the energy exploration company’s stock, down from their previous target price of $151.00. Bank of America‘s price target suggests a potential upside of 5.95% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup lifted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group cut their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler decreased their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Stock Performance

Shares of EOG opened at $135.91 on Monday. The firm has a market cap of $76.44 billion, a P/E ratio of 10.94, a PEG ratio of 3.37 and a beta of 1.29. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. 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 firm’s 50 day moving average price is $128.48 and its two-hundred day moving average price is $126.84.

EOG Resources announced that its board has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s 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 completion of the sale, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on 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 directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources in the third quarter worth $26,000. Eastern Bank acquired a new stake in EOG Resources during the third quarter worth about $28,000. Capital Performance Advisors LLP bought a new position in EOG Resources in the 3rd quarter valued at about $31,000. HM Payson & Co. raised its position in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new stake in shares of EOG Resources during the 3rd quarter worth approximately $43,000. 89.91% of the stock is currently owned by 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.