Piper Sandler Boosts EOG Resources (NYSE:EOG) Price Target to $141.00

EOG Resources (NYSE:EOG) had its price objective raised by analysts at Piper Sandler from $140.00 to $141.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s target price would suggest a potential upside of 8.67% from the company’s previous close.

Several other research firms have also commented on EOG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Scotiabank dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Barclays decreased their target price on shares of 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. Mizuho dropped their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and an average price target of $143.90.

EOG Resources Price Performance

EOG Resources stock opened at $129.75 on Wednesday. The firm’s 50-day moving average is $128.70 and its two-hundred day moving average is $127.43. 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 stock has a market capitalization of $72.98 billion, a P/E ratio of 10.45, a P/E/G ratio of 3.68 and a beta of 1.29. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same quarter last year, the business earned $3.44 earnings per share. Equities analysts predict that EOG Resources will post 11.45 earnings per share for the current year.

EOG Resources announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of EOG Resources during the fourth quarter worth about $25,000. Y.D. More Investments Ltd grew its position in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources during the fourth quarter worth $27,000. 89.91% of the stock is currently owned by 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.