EOG Resources (NYSE:EOG) Upgraded at StockNews.com

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

A number of other equities analysts also recently weighed in on the stock. Wolfe Research initiated coverage on shares of EOG Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Piper Sandler reduced their price objective on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Thirteen equities 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. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $141.20.

EOG Resources Trading Up 6.1 %

NYSE EOG traded up $7.73 on Friday, reaching $134.19. The company had a trading volume of 5,335,064 shares, compared to its average volume of 3,141,229. The firm has a market cap of $76.30 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 3.24 and a beta of 1.28. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The business has a 50 day moving average of $125.19 and a two-hundred day moving average of $126.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89.

EOG Resources declared that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently added to or reduced their stakes in EOG. Capital World Investors boosted its holdings in EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after buying an additional 1,361,538 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of EOG Resources in the second quarter valued at $106,990,000. Capital International Investors raised its stake in shares of EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares during the period. Legal & General Group Plc boosted its stake in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. Finally, Capital Research Global Investors grew its holdings in EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after buying an additional 373,365 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

About EOG Resources

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.