EOG Resources (NYSE:EOG) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of EOG Resources (NYSE:EOG) from a buy rating to a hold rating in a report issued on Friday.

Other research analysts have also issued research reports about the company. Raymond James raised their target price on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Citigroup lifted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wolfe Research upgraded 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 report on Friday, January 3rd. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.85.

EOG Resources Stock Down 1.9 %

EOG Resources stock opened at $133.10 on Friday. The firm has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The firm’s fifty day moving average price is $128.36 and its two-hundred day moving average price is $127.78. EOG Resources has a 1-year low of $109.06 and a 1-year high of $139.67. 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 announced that its board has initiated a stock repurchase plan 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently made changes to their positions in the stock. DRW Securities LLC grew its holdings in EOG Resources by 98.6% during the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC grew its stake in EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of EOG Resources during the 3rd quarter valued at $730,000. Mountain Lake Investment Management LLC bought a new position in shares of EOG Resources in the fourth quarter worth $735,000. Finally, Oak Ridge Investments LLC raised its position in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after buying an additional 2,311 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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.