EOG Resources (NYSE:EOG) Rating Lowered to Hold at StockNews.com

EOG Resources (NYSE:EOG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also recently issued reports on EOG. Evercore ISI dropped their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. UBS Group dropped their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Barclays dropped their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, KeyCorp dropped their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $142.20.

EOG Resources Trading Down 0.4 %

Shares of NYSE:EOG opened at $134.59 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company’s 50-day moving average price is $125.97 and its two-hundred day moving average price is $126.04. The stock has a market capitalization of $75.70 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

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

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new position in EOG Resources in the 3rd quarter valued at approximately $26,000. Riverview Trust Co bought a new position in EOG Resources in the 2nd quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the 2nd quarter valued at approximately $28,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources in the 2nd quarter valued at approximately $30,000. 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.