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

EOG Resources (NYSE:EOG) had its target price boosted by Wells Fargo & Company from $135.00 to $147.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.91% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Barclays reduced their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. 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. Finally, KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $142.90.

EOG Resources Price Performance

EOG opened at $136.23 on Thursday. The firm has a market capitalization of $76.62 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business’s 50-day moving average is $127.27 and its two-hundred day moving average is $126.10. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources declared that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction 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 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently bought and sold shares of the company. Westside Investment Management Inc. raised its position in shares of EOG Resources by 15.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,840 shares of the energy exploration company’s stock valued at $226,000 after buying an additional 250 shares during the period. Unigestion Holding SA raised its position in EOG Resources by 27.9% in the third quarter. Unigestion Holding SA now owns 203,862 shares of the energy exploration company’s stock valued at $25,059,000 after purchasing an additional 44,441 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of EOG Resources by 88.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,051 shares of the energy exploration company’s stock valued at $375,000 after purchasing an additional 1,432 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in EOG Resources by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,705 shares of the energy exploration company’s stock valued at $701,000 after buying an additional 178 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in EOG Resources by 35.6% in the third quarter. Sunbelt Securities Inc. now owns 2,463 shares of the energy exploration company’s stock valued at $303,000 after buying an additional 647 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.