Benchmark Reaffirms Hold Rating for EOG Resources (NYSE:EOG)

EOG Resources (NYSE:EOG - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Benchmark in a research note issued on Tuesday,Benzinga reports.

A number of other brokerages have also issued reports on EOG. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Evercore ISI reduced their price objective on EOG Resources from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, September 30th. Piper Sandler lowered their price objective on EOG Resources from $154.00 to $147.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. Barclays lowered their target price on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. Thirteen 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $142.20.

EOG Resources Price Performance

EOG stock traded up $0.03 during trading on Tuesday, hitting $133.13. The stock had a trading volume of 2,520,427 shares, compared to its average volume of 3,133,807. The company's 50 day moving average price is $125.28 and its two-hundred day moving average price is $125.94. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The stock has a market cap of $75.70 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

EOG Resources declared that its board has initiated a stock 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction 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 completion of the sale, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company's stock, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company's stock, valued at $9,615,375. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently made changes to their positions in EOG. Capital World Investors raised its holdings in EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company's stock valued at $3,423,869,000 after acquiring an additional 1,361,538 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EOG Resources during the second quarter worth about $106,990,000. Capital International Investors lifted its holdings in shares of EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock valued at $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. Legal & General Group Plc raised its position in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock valued at $609,300,000 after buying an additional 403,676 shares during the last quarter. Finally, Capital Research Global Investors increased its position in EOG Resources by 1.3% during the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company's stock worth $3,693,261,000 after purchasing an additional 373,365 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other 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.