EOG Resources (NYSE:EOG) Receives Hold Rating from Benchmark

EOG Resources (NYSE:EOG)‘s stock had its “hold” rating reiterated by equities researchers at Benchmark in a research note issued to investors on Monday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler cut their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. UBS Group lowered their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada restated a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Finally, Truist Financial increased their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Thirteen investment 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 stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Price Performance

Shares of NYSE EOG traded up $1.41 during mid-day trading on Monday, reaching $132.82. 320,075 shares of the company were exchanged, compared to its average volume of 2,800,542. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The company’s 50 day moving average price is $127.97 and its 200 day moving average price is $126.70. The stock has a market capitalization of $74.70 billion, a PE ratio of 10.69, a PEG ratio of 3.37 and a beta of 1.29. 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 declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value 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. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % 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 Trading of EOG Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after buying an additional 75,194 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares during the period. Ameriprise Financial Inc. raised its stake in shares of EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Finally, Legal & General Group Plc boosted its position in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after buying an additional 403,676 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.