EOG Resources, Inc. (NYSE:EOG) Receives $143.90 Average Price Target from Brokerages

EOG Resources, Inc. (NYSE:EOG) has been assigned an average recommendation of “Hold” from the twenty-two brokerages that are covering the company, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $143.90.

Several research firms recently weighed in on EOG. Citigroup upped their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. KeyCorp decreased their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Raymond James increased their target price on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th.

EOG Resources Stock Down 1.1 %

NYSE:EOG opened at $126.34 on Friday. The firm has a market capitalization of $71.06 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 3.33 and a beta of 1.27. EOG Resources has a 1-year low of $109.06 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $128.07 and its 200 day moving average price is $127.29.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the firm earned $3.44 earnings per share. On average, sell-side analysts forecast that EOG Resources will post 11.46 earnings per share for the current fiscal year.

EOG Resources announced that its board has authorized a share buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at EOG Resources

In related 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 sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. bought a new position in EOG Resources in the 4th quarter valued at $281,000. Raymond James Financial Inc. bought a new position in EOG Resources in the 4th quarter valued at $171,193,000. First Business Financial Services Inc. boosted its position in EOG Resources by 4.1% in the 4th quarter. First Business Financial Services Inc. now owns 11,605 shares of the energy exploration company’s stock valued at $1,423,000 after buying an additional 453 shares during the last quarter. Dana Investment Advisors Inc. boosted its position in EOG Resources by 0.8% in the 4th quarter. Dana Investment Advisors Inc. now owns 29,451 shares of the energy exploration company’s stock valued at $3,610,000 after buying an additional 234 shares during the last quarter. Finally, Aigen Investment Management LP boosted its position in EOG Resources by 974.4% in the 4th quarter. Aigen Investment Management LP now owns 21,434 shares of the energy exploration company’s stock valued at $2,627,000 after buying an additional 19,439 shares during the last quarter. 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.