EOG Resources (NYSE:EOG) Rating Lowered to Hold at StockNews.com

EOG Resources (NYSE:EOG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Truist Financial boosted their price target on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Mizuho reduced their price objective 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. Piper Sandler boosted their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Raymond James increased their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $144.14.

EOG Resources Price Performance

EOG stock traded down $2.57 during mid-day trading on Friday, hitting $133.10. The stock had a trading volume of 3,456,803 shares, compared to its average volume of 2,865,626. The firm has a fifty day simple moving average of $128.36 and a 200 day simple moving average of $127.71. The firm has a market capitalization of $74.86 billion, a P/E ratio of 10.72, a P/E/G ratio of 3.55 and a beta of 1.27. 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 $109.06 and a 52 week high of $139.67.

EOG Resources declared that its Board of Directors has initiated a share buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction 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 $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Institutional Trading of EOG Resources

A number of large investors have recently bought and sold shares of EOG. Ascent Group LLC boosted its position 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 valued at $2,169,000 after purchasing an additional 924 shares in the last quarter. Mackenzie Financial Corp lifted its stake in EOG Resources by 92.7% in the fourth quarter. Mackenzie Financial Corp now owns 173,218 shares of the energy exploration company’s stock valued at $21,233,000 after buying an additional 83,316 shares during the period. Forum Financial Management LP boosted its holdings in shares of EOG Resources by 2.9% during the 4th quarter. Forum Financial Management LP now owns 8,080 shares of the energy exploration company’s stock worth $990,000 after buying an additional 227 shares in the last quarter. Peak Retirement Planning Inc. acquired a new stake in shares of EOG Resources during the 4th quarter worth approximately $824,000. Finally, Formidable Asset Management LLC increased its stake in shares of EOG Resources by 4.5% in the 4th quarter. Formidable Asset Management LLC now owns 12,800 shares of the energy exploration company’s stock valued at $1,569,000 after acquiring an additional 554 shares in the last quarter. 89.91% of the stock is currently 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.