EOG Resources (NYSE:EOG) Earns Neutral Rating from Bank of America

EOG Resources (NYSE:EOG)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a research note issued to investors on Monday, Marketbeat reports. They presently have a $144.00 price objective on the energy exploration company’s stock, down from their previous price objective of $151.00. Bank of America‘s price objective points to a potential upside of 5.95% from the company’s current price.

Several other analysts have also issued reports on EOG. KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Mizuho cut their price target 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. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Raymond James increased their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Stock Up 1.1 %

EOG Resources stock opened at $135.91 on Monday. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $76.44 billion, a PE ratio of 10.94, a P/E/G ratio of 3.37 and a beta of 1.29. The firm’s 50 day moving average price is $128.48 and its two-hundred day moving average price is $126.84.

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

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently added to or reduced their stakes in the stock. Sendero Wealth Management LLC raised its stake in shares of EOG Resources by 2,695.2% in the fourth quarter. Sendero Wealth Management LLC now owns 66,387 shares of the energy exploration company’s stock valued at $8,138,000 after acquiring an additional 64,012 shares during the last quarter. Advisors Management Group Inc. ADV boosted its stake in EOG Resources by 30.5% in the fourth quarter. Advisors Management Group Inc. ADV now owns 4,245 shares of the energy exploration company’s stock valued at $520,000 after acquiring an additional 993 shares during the last quarter. Burney Co. boosted its position in shares of EOG Resources by 73.7% in the 4th quarter. Burney Co. now owns 3,559 shares of the energy exploration company’s stock worth $436,000 after purchasing an additional 1,510 shares during the last quarter. Acropolis Investment Management LLC grew its position in shares of EOG Resources by 11.7% during the 4th quarter. Acropolis Investment Management LLC now owns 6,170 shares of the energy exploration company’s stock worth $756,000 after buying an additional 647 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in EOG Resources by 161.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,487 shares of the energy exploration company’s stock valued at $550,000 after purchasing an additional 2,773 shares during the period. 89.91% of the stock is 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.