EOG Resources (NYSE:EOG - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $150.00 price objective on the energy exploration company's stock, up from their prior price objective of $147.00. Wells Fargo & Company's target price suggests a potential upside of 21.81% from the company's previous close.
A number of other equities analysts have also recently issued reports on the company. StockNews.com cut EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, November 16th. Barclays lowered their target price on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. 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 research note on Monday, September 30th. Scotiabank cut their target price on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Finally, UBS Group cut their target price on EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, EOG Resources currently has an average rating of "Hold" and an average target price of $143.50.
Check Out Our Latest Research Report on EOG Resources
EOG Resources Price Performance
Shares of NYSE:EOG traded down $1.48 during trading on Tuesday, reaching $123.14. 3,820,082 shares of the company traded hands, compared to its average volume of 3,122,063. The company's 50 day moving average is $129.04 and its two-hundred day moving average is $126.45. The firm has a market capitalization of $69.26 billion, a PE ratio of 9.86, a PEG ratio of 3.39 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67.
EOG Resources declared that its board has initiated a share repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.
Insider Transactions at EOG Resources
In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 43,532 shares of the company's stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the 3rd quarter worth approximately $26,000. Eastern Bank purchased a new stake in shares of EOG Resources in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources in the 3rd quarter worth approximately $31,000. HM Payson & Co. grew its stake in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company's stock worth $40,000 after buying an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of EOG Resources in the 3rd quarter worth approximately $43,000. Institutional investors own 89.91% of the company's stock.
EOG Resources Company Profile
(
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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.
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