EOG Resources (NYSE:EOG) Stock Rating Lowered by Piper Sandler

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by Piper Sandler from an "overweight" rating to a "neutral" rating in a research note issued on Monday, Marketbeat reports. They presently have a $149.00 price objective on the energy exploration company's stock, up from their prior price objective of $147.00. Piper Sandler's target price would suggest a potential upside of 9.13% from the company's previous close.

Several other research firms have also commented on EOG. Benchmark reissued a "hold" rating on shares of EOG Resources in a research report on Tuesday, November 12th. Evercore ISI decreased their price target on EOG Resources from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Barclays reduced their target price on shares of EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Truist Financial lifted their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price objective on shares of EOG Resources from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 1st. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of "Hold" and an average price target of $142.30.

EOG Resources Trading Up 1.5 %

EOG Resources stock traded up $1.98 during midday trading on Monday, reaching $136.54. The stock had a trading volume of 3,060,641 shares, compared to its average volume of 3,131,420. The stock has a market capitalization of $76.80 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28. 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 stock's 50-day simple moving average is $126.25 and its 200 day simple moving average is $125.96. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its board has authorized a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC grew its position in shares of EOG Resources by 3.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,705 shares of the energy exploration company's stock worth $701,000 after purchasing an additional 178 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in EOG Resources by 35.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,463 shares of the energy exploration company's stock valued at $303,000 after acquiring an additional 647 shares in the last quarter. Empire Financial Management Company LLC grew its stake in EOG Resources by 3.7% during the third quarter. Empire Financial Management Company LLC now owns 9,384 shares of the energy exploration company's stock worth $1,154,000 after buying an additional 333 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in EOG Resources by 15.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,661 shares of the energy exploration company's stock valued at $826,000 after buying an additional 876 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company's stock worth $1,513,446,000 after acquiring an additional 180,755 shares during the period. 89.91% of the stock is currently 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.