EOG Resources (NYSE:EOG) Stock Rating Upgraded by Wolfe Research

EOG Resources (NYSE:EOG) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $143.00 price objective on the energy exploration company’s stock. Wolfe Research’s price objective suggests a potential upside of 14.67% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Evercore ISI cut their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, 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. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.48.

EOG Resources Stock Performance

EOG stock opened at $124.71 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The stock’s fifty day moving average is $127.18 and its two-hundred day moving average is $126.39. The stock has a market capitalization of $70.14 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 3.39 and a beta of 1.29.

EOG Resources announced that its Board of Directors has authorized a share 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of the company. Insight Inv LLC lifted its position in shares of EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its position in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares in the last quarter. Everpar Advisors LLC boosted its stake in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Altman Advisors Inc. grew its holdings in shares of EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after acquiring an additional 85 shares in the last quarter. Finally, X Square Capital LLC increased its position in shares of EOG Resources by 2.7% in the second quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock valued at $407,000 after acquiring an additional 86 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.