UBS Group Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG - Get Free Report) had its price objective dropped by analysts at UBS Group from $165.00 to $160.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the energy exploration company's stock. UBS Group's target price would indicate a potential upside of 30.98% from the company's previous close.

EOG has been the subject of several other reports. Wolfe Research raised EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Mizuho decreased their price objective on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Monday, January 13th. StockNews.com downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Benchmark restated a "hold" rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.80.

EOG Resources Price Performance

Shares of EOG stock traded up $0.31 during mid-day trading on Tuesday, hitting $122.16. 3,955,616 shares of the stock traded hands, compared to its average volume of 3,005,059. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company's 50-day simple moving average is $129.36 and its 200-day simple moving average is $127.76. EOG Resources has a twelve month low of $115.57 and a twelve month high of $139.67. The firm has a market cap of $68.71 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

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

EOG Resources announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction 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. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of EOG. DRW Securities LLC grew its position in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock valued at $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC lifted its stake in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock worth $1,489,000 after acquiring an additional 862 shares during the period. World Investment Advisors LLC bought a new stake in EOG Resources in the third quarter valued at approximately $730,000. Mountain Lake Investment Management LLC bought a new position in EOG Resources during the 4th quarter worth approximately $735,000. Finally, Oak Ridge Investments LLC lifted its position in shares of EOG Resources by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company's stock worth $5,059,000 after purchasing an additional 2,311 shares during the period. Institutional investors and hedge funds 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.