Mizuho Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective dropped by equities researchers at Mizuho from $156.00 to $148.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy exploration company’s stock. Mizuho’s target price would suggest a potential upside of 20.19% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $147.00 to $149.00 in a research report on Monday, November 18th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Raymond James boosted their price target on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.50.

EOG Resources Stock Performance

EOG Resources stock opened at $123.14 on Monday. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock has a market cap of $69.26 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 3.39 and a beta of 1.29. The stock’s 50 day simple moving average is $128.90 and its two-hundred day simple moving average is $126.44. 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 announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The stock was 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 in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after buying an additional 75,194 shares during the period. Geode Capital Management LLC increased its position in EOG Resources by 1.5% during the 3rd 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 holdings in shares of EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of EOG Resources by 64.7% in the 3rd 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 stake in shares of EOG Resources by 9.1% during 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 purchasing an additional 403,676 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other 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.