EOG Resources (NYSE:EOG) Price Target Raised to $147.00 at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its price objective boosted by equities researchers at Wells Fargo & Company from $135.00 to $147.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 7.91% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley reduced their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Scotiabank dropped their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial upped their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Susquehanna cut their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $142.90.

EOG Resources Stock Up 0.8 %

Shares of NYSE:EOG opened at $136.23 on Thursday. The firm’s 50 day moving average price is $127.27 and its 200 day moving average price is $126.10. The stock has a market cap of $76.62 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 3.58 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 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 declared that its board has initiated a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in EOG Resources by 3.8% in the first quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company’s stock valued at $3,822,000 after buying an additional 1,092 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in shares of EOG Resources during the 1st quarter valued at $243,000. Capital International Sarl purchased a new stake in EOG Resources during the 1st quarter worth $271,000. Canada Pension Plan Investment Board raised its position in EOG Resources by 67.3% in the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after purchasing an additional 339,480 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of EOG Resources by 23.5% during the first quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after purchasing an additional 400 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.