EOG Resources (NYSE:EOG) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of EOG Resources (NYSE:EOG) from a sector perform rating to an outperform rating in a research report released on Wednesday, Marketbeat Ratings reports. Royal Bank of Canada currently has $155.00 price objective on the energy exploration company’s stock, up from their previous price objective of $150.00.

Several other research analysts have also weighed in on EOG. Bank of America reiterated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Truist Financial upped their price target on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

EOG Resources Trading Down 2.6 %

EOG opened at $128.83 on Wednesday. The firm’s fifty day moving average is $127.79 and its two-hundred day moving average is $127.37. The firm has a market cap of $72.46 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. EOG Resources has a twelve month low of $109.06 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.

EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $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 available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at $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. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently bought and sold shares of EOG. Financial Life Planners bought a new position in shares of EOG Resources during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd grew its holdings in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in EOG Resources in the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter worth $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources during the fourth quarter worth $27,000. 89.91% of the stock is currently 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.