Piper Sandler Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target lowered by Piper Sandler from $149.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s price target points to a potential upside of 14.36% from the stock’s current price.

Several other research analysts also recently commented on EOG. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial increased their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and an average target price of $143.50.

EOG Resources Stock Performance

Shares of NYSE:EOG traded down $2.20 during midday trading on Tuesday, reaching $122.42. 1,133,890 shares of the company traded hands, compared to its average volume of 3,110,692. The firm’s fifty day moving average price is $129.04 and its two-hundred day moving average price is $126.45. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market capitalization of $68.86 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. 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 of Directors has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently bought and sold shares of the company. Insight Inv LLC lifted its position in EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after acquiring an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its holdings in shares of EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after purchasing an additional 79 shares in the last quarter. Bailard Inc. increased its holdings in EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after buying an additional 81 shares in the last quarter. Everpar Advisors LLC raised its position in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. boosted its holdings in shares of EOG Resources by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.