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

EOG Resources (NYSE:EOG - Get Free Report) had its price objective raised by research analysts at Truist Financial from $135.00 to $137.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the energy exploration company's stock. Truist Financial's price objective indicates a potential upside of 1.85% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. Bank of America restated a "neutral" rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday. Wolfe Research upgraded EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Raymond James increased their target price on EOG Resources from $156.00 to $167.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 21st. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Thirteen 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $143.48.

EOG Resources Stock Performance

Shares of NYSE EOG traded up $3.10 during mid-day trading on Monday, hitting $134.51. The company had a trading volume of 5,523,171 shares, compared to its average volume of 3,548,028. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market cap of $75.66 billion, a P/E ratio of 10.83, a PEG ratio of 3.37 and a beta of 1.29. The business's 50-day simple moving average is $128.21 and its 200-day simple moving average is $126.77. 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 announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company's stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DRW Securities LLC boosted its holdings in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock valued at $3,299,000 after acquiring an additional 13,324 shares during the last quarter. Caprock Group LLC lifted its stake in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock valued at $1,489,000 after buying an additional 862 shares during the period. World Investment Advisors LLC bought a new position in EOG Resources during the third quarter worth $730,000. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company's stock valued at $1,370,000 after purchasing an additional 10,618 shares during the period. Finally, KBC Group NV grew its stake in shares of EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company's stock valued at $14,645,000 after buying an additional 12,210 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

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.