EOG Resources (NYSE:EOG) Raised to “Buy” at StockNews.com

EOG Resources (NYSE:EOG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the company. Raymond James raised their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Barclays dropped their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, Evercore ISI decreased their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.71.

EOG Resources Stock Performance

NYSE EOG opened at $131.54 on Friday. The company has a fifty day moving average of $127.97 and a two-hundred day moving average of $126.70. The company has a market capitalization of $73.98 billion, a PE ratio of 10.59, a P/E/G ratio of 3.37 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 company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

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

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a filing 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 sale, the director now directly 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. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the third quarter worth $26,000. Eastern Bank acquired a new position in EOG Resources in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources in the 3rd quarter valued at about $31,000. HM Payson & Co. boosted its stake in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of EOG Resources during the third quarter worth about $43,000. 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.