EOG Resources (NYSE:EOG) Price Target Raised to $137.00

EOG Resources (NYSE:EOG) had its price target hoisted by investment analysts at Truist Financial from $135.00 to $137.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price points to a potential upside of 0.80% from the stock’s previous close.

EOG has been the topic of a number of other research reports. UBS Group lowered their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley lowered their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Finally, KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Thirteen 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Up 1.1 %

Shares of EOG stock opened at $135.91 on Monday. The company’s fifty day simple moving average is $128.48 and its two-hundred day simple moving average is $126.84. 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 has a 1 year low of $108.94 and a 1 year high of $139.67. The stock has a market capitalization of $76.44 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 3.37 and a beta of 1.29.

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 Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources 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 sale, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on 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 directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % 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

Several large investors have recently bought and sold shares of the company. Sendero Wealth Management LLC lifted its holdings in shares of EOG Resources by 2,695.2% during the fourth quarter. Sendero Wealth Management LLC now owns 66,387 shares of the energy exploration company’s stock valued at $8,138,000 after purchasing an additional 64,012 shares during the last quarter. Advisors Management Group Inc. ADV grew its position in EOG Resources by 30.5% in the 4th quarter. Advisors Management Group Inc. ADV now owns 4,245 shares of the energy exploration company’s stock worth $520,000 after purchasing an additional 993 shares during the period. Burney Co. grew its position in EOG Resources by 73.7% in the 4th quarter. Burney Co. now owns 3,559 shares of the energy exploration company’s stock worth $436,000 after purchasing an additional 1,510 shares during the period. Acropolis Investment Management LLC grew its position in EOG Resources by 11.7% in the 4th quarter. Acropolis Investment Management LLC now owns 6,170 shares of the energy exploration company’s stock worth $756,000 after purchasing an additional 647 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in EOG Resources by 161.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,487 shares of the energy exploration company’s stock worth $550,000 after purchasing an additional 2,773 shares during the period. 89.91% of the stock is owned by 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.