EOG Resources (NYSE:EOG) Price Target Lowered to $146.00 at Barclays

EOG Resources (NYSE:EOG - Get Free Report) had its price objective dropped by stock analysts at Barclays from $148.00 to $146.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the energy exploration company's stock. Barclays's price target indicates a potential upside of 21.38% from the company's previous close.

A number of other equities analysts have also weighed in on the company. Mizuho decreased their target price on EOG Resources from $156.00 to $148.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada raised shares of EOG Resources from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Raymond James boosted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Piper Sandler raised their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.80.

EOG Resources Price Performance

Shares of EOG stock traded down $6.66 during trading hours on Friday, reaching $120.28. The stock had a trading volume of 7,431,360 shares, compared to its average volume of 3,039,013. The stock's fifty day simple moving average is $129.30 and its 200 day simple moving average is $127.90. The firm has a market capitalization of $67.65 billion, a PE ratio of 9.68, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources has a 12 month low of $115.40 and a 12 month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts predict that EOG Resources will post 11.47 EPS for the current year.

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

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was 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. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.

Institutional Trading of EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in EOG Resources in the 4th quarter worth $26,062,000. Heck Capital Advisors LLC bought a new position in EOG Resources in the fourth quarter worth about $78,000. Ameriflex Group Inc. purchased a new stake in EOG Resources in the fourth quarter worth about $36,000. American Trust boosted its position in EOG Resources by 7.9% during the 4th quarter. American Trust now owns 29,952 shares of the energy exploration company's stock valued at $3,672,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of EOG Resources by 5.5% during the 4th quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company's stock worth $2,169,000 after acquiring an additional 924 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

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.