EOG Resources (NYSE:EOG) Price Target Cut to $148.00 by Analysts at Mizuho

EOG Resources (NYSE:EOG - Get Free Report) had its price target dropped by analysts at Mizuho from $156.00 to $148.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the energy exploration company's stock. Mizuho's target price would suggest a potential upside of 18.76% from the company's current price.

A number of other equities analysts also recently commented on EOG. Morgan Stanley reduced 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. Scotiabank lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. KeyCorp reduced their price target on EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on EOG Resources from $135.00 to $147.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $143.80.

EOG Resources Stock Down 1.7 %

Shares of NYSE:EOG traded down $2.15 on Monday, reaching $124.62. The company had a trading volume of 2,898,640 shares, compared to its average volume of 3,119,178. The firm has a market capitalization of $70.09 billion, a PE ratio of 10.03, a PEG ratio of 3.39 and a beta of 1.29. 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 has a 52-week low of $108.94 and a 52-week high of $139.67. The firm's 50 day simple moving average is $129.23 and its 200-day simple moving average is $126.43.

EOG Resources announced that its board has initiated a stock repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares of the company's stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Insight Inv LLC lifted its stake in EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company's stock valued at $1,154,000 after buying an additional 75 shares in the last quarter. Cape ANN Savings Bank raised its stake in EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company's stock valued at $1,067,000 after purchasing an additional 79 shares during the last quarter. Bailard Inc. lifted its holdings in EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company's stock valued at $2,505,000 after purchasing an additional 81 shares in the last quarter. Everpar Advisors LLC lifted its holdings in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company's stock valued at $293,000 after purchasing an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in EOG Resources by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company's stock worth $1,603,000 after purchasing an additional 85 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.