Piper Sandler Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its target price increased by equities research analysts at Piper Sandler from $140.00 to $141.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s target price would indicate a potential upside of 8.85% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Barclays decreased their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Raymond James boosted their price objective on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Mizuho decreased their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.90.

EOG Resources Trading Down 0.5 %

NYSE EOG opened at $129.54 on Wednesday. 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 has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market cap of $72.86 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29. The business’s fifty day moving average is $128.82 and its 200 day moving average is $127.41.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate 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 business earned $3.44 EPS. As a group, sell-side analysts expect that EOG Resources will post 11.45 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 43,532 shares of the company’s stock, 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 through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in EOG Resources in the fourth quarter worth $25,000. Y.D. More Investments Ltd increased its holdings in shares of EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the third quarter valued at $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources during the fourth quarter valued at $27,000. Finally, Keystone Financial Group Inc. bought a new position in shares of EOG Resources during the fourth quarter valued at $27,000. Institutional investors own 89.91% of the company’s stock.

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.