EOG Resources (NYSE:EOG) Price Target Lowered to $135.00 at Piper Sandler

EOG Resources (NYSE:EOG) had its target price dropped by Piper Sandler from $141.00 to $135.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s price objective suggests a potential upside of 10.52% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Raymond James boosted their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. UBS Group lowered their price objective on EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Barclays decreased their target price on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Twelve research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.80.

EOG Resources Stock Up 0.0 %

Shares of NYSE EOG opened at $122.15 on Thursday. EOG Resources has a 12-month low of $115.57 and a 12-month high of $139.67. The stock’s fifty day simple moving average is $129.36 and its two-hundred day simple moving average is $127.76. The stock has a market capitalization of $68.70 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. As a group, analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of EOG. Stephens Inc. AR grew its holdings in shares of EOG Resources by 5.3% during the third quarter. Stephens Inc. AR now owns 5,083 shares of the energy exploration company’s stock worth $625,000 after buying an additional 258 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in EOG Resources in the 3rd quarter valued at $47,000. Van ECK Associates Corp lifted its stake in shares of EOG Resources by 1.7% in the 3rd quarter. Van ECK Associates Corp now owns 38,231 shares of the energy exploration company’s stock worth $4,768,000 after acquiring an additional 654 shares during the period. Crescent Grove Advisors LLC raised its holdings in EOG Resources by 34.5% during the third quarter. Crescent Grove Advisors LLC now owns 2,568 shares of the energy exploration company’s stock worth $316,000 after purchasing an additional 659 shares in the last quarter. Finally, Catalina Capital Group LLC lifted its holdings in shares of EOG Resources by 9.9% in the 3rd quarter. Catalina Capital Group LLC now owns 3,074 shares of the energy exploration company’s stock valued at $378,000 after buying an additional 277 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.