EOG Resources (NYSE:EOG) Downgraded to "Hold" Rating by StockNews.com

EOG Resources (NYSE:EOG - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. KeyCorp dropped their price objective on EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Benchmark reiterated a "hold" rating on shares of EOG Resources in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $142.20.

EOG Resources Price Performance

Shares of NYSE:EOG traded down $0.63 during trading on Friday, reaching $134.56. 2,279,909 shares of the company traded hands, compared to its average volume of 3,134,220. The firm has a market capitalization of $75.68 billion, a PE ratio of 10.84, a PEG ratio of 3.56 and a beta of 1.28. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. 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's 50 day moving average is $126.25 and its two-hundred day moving average is $126.03.

EOG Resources announced that its Board of Directors has approved a stock 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 reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Trading of EOG Resources

Several institutional investors have recently made changes to their positions in EOG. UniSuper Management Pty Ltd boosted its stake in shares of EOG Resources by 228.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company's stock worth $1,998,000 after buying an additional 10,868 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in shares of EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company's stock worth $1,370,000 after purchasing an additional 10,618 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of EOG Resources by 23.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company's stock worth $3,209,000 after purchasing an additional 4,749 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of EOG Resources by 44.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company's stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company's stock valued at $107,856,000 after buying an additional 339,480 shares during the period. Institutional investors own 89.91% of the company's stock.

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.