EOG Resources (NYSE:EOG) Given “Hold” Rating at Benchmark

EOG Resources (NYSE:EOG)‘s stock had its “hold” rating reaffirmed by equities research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports.

A number of other research firms have also recently weighed in on EOG. Wells Fargo & Company reduced their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Friday. Susquehanna dropped their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.20.

EOG Resources Stock Down 0.8 %

EOG Resources stock opened at $133.07 on Tuesday. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a market capitalization of $75.66 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The business has a 50 day simple moving average of $125.28 and a 200-day simple moving average of $125.94.

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

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors grew its position in shares of EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after buying an additional 1,361,538 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of EOG Resources during the second quarter worth about $106,990,000. Capital International Investors increased its position in shares of EOG Resources by 7.1% during 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 in the last quarter. Legal & General Group Plc boosted its position in shares of EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the period. Finally, Capital Research Global Investors grew its stake in EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares during the last quarter. 89.91% of the stock is currently 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.