EOG Resources (NYSE:EOG) Earns “Sector Perform” Rating from Royal Bank of Canada

EOG Resources (NYSE:EOG)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $150.00 price objective on the energy exploration company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 17.49% from the stock’s current price.

Several other equities analysts also recently weighed in on EOG. Raymond James raised their target price on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank decreased their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a report on Friday. Barclays dropped 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 research note on Thursday, October 3rd. Finally, Truist Financial boosted their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $143.71.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $1.10 during midday trading on Monday, hitting $127.67. The stock had a trading volume of 447,797 shares, compared to its average volume of 2,093,510. The company has a market capitalization of $71.81 billion, a PE ratio of 10.28, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The stock has a 50 day moving average price of $127.25 and a two-hundred day moving average price of $126.54. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was 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 approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred 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 transaction, the director now owns 43,532 shares in the company, valued at approximately $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. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

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

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.