EOG Resources (NYSE:EOG) Rating Lowered to Neutral at Piper Sandler

EOG Resources (NYSE:EOG) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports. They presently have a $149.00 price objective on the energy exploration company’s stock, up from their prior price objective of $147.00. Piper Sandler’s target price would indicate a potential upside of 10.22% from the stock’s previous close.

Several other research analysts have also commented on EOG. Truist Financial lifted their price objective 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. Susquehanna dropped their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. KeyCorp dropped their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company lowered their target price on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $142.30.

EOG Resources Stock Down 1.0 %

NYSE EOG opened at $135.19 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $126.90 and a two-hundred day moving average of $126.03. The firm has a market capitalization of $76.04 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.57 and a beta of 1.28. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67.

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

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently added to or reduced their stakes in EOG. Davis R M Inc. bought a new position in EOG Resources in the first quarter worth about $201,000. UniSuper Management Pty Ltd increased its holdings in shares of EOG Resources by 228.4% during the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock valued at $1,998,000 after acquiring an additional 10,868 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of EOG Resources by 66.9% during the first quarter. Lake Street Advisors Group LLC now owns 2,896 shares of the energy exploration company’s stock valued at $370,000 after acquiring an additional 1,161 shares in the last quarter. Pitcairn Co. increased its holdings in shares of EOG Resources by 12.0% during the first quarter. Pitcairn Co. now owns 4,903 shares of the energy exploration company’s stock valued at $627,000 after acquiring an additional 526 shares in the last quarter. Finally, InterOcean Capital Group LLC increased its holdings in shares of EOG Resources by 10.0% during the first quarter. InterOcean Capital Group LLC now owns 5,006 shares of the energy exploration company’s stock valued at $640,000 after acquiring an additional 454 shares in 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.