StockNews.com Upgrades EOG Resources (NYSE:EOG) to Buy

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

A number of other equities research analysts also recently weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Truist Financial dropped their price objective on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a report on Monday, September 30th. 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 note on Thursday, September 12th. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.20.

EOG Resources Price Performance

EOG Resources stock traded up $7.73 during midday trading on Friday, hitting $134.19. 5,335,064 shares of the company’s stock were exchanged, compared to its average volume of 3,141,229. The stock has a 50-day moving average price of $125.19 and a two-hundred day moving average price of $126.08. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a market cap of $76.30 billion, a P/E ratio of 10.36, a PEG ratio of 3.24 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

EOG Resources announced that its board has authorized a stock 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 typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

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

Institutional Trading of EOG Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after buying an additional 146,674 shares during the last quarter. Capital Research Global Investors grew its stake in shares of EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after acquiring an additional 373,365 shares during the period. Capital World Investors raised its holdings in shares of EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the last quarter. Ameriprise Financial Inc. lifted its position in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares during the period. Finally, Capital International Investors boosted its holdings in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares during the last quarter. Institutional investors 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.