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

EOG Resources (NYSE:EOG)‘s stock had its “neutral” rating reiterated by equities researchers at Bank of America in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $144.00 price target on the energy exploration company’s stock, down from their previous price target of $151.00. Bank of America‘s price target would indicate a potential upside of 9.47% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays cut their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Piper Sandler cut their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Finally, Citigroup lifted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $143.38.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $131.54 on Monday. 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 has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a 50 day simple moving average of $127.97 and a two-hundred day simple moving average of $126.70. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 3.37 and a beta of 1.29.

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

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the business’s 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 transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EOG. Matrix Trust Co lifted its position in EOG Resources by 700.6% in the fourth quarter. Matrix Trust Co now owns 2,778 shares of the energy exploration company’s stock valued at $341,000 after buying an additional 2,431 shares during the last quarter. Czech National Bank lifted its position in EOG Resources by 5.3% in the fourth quarter. Czech National Bank now owns 121,951 shares of the energy exploration company’s stock valued at $14,949,000 after buying an additional 6,103 shares during the last quarter. Graypoint LLC lifted its position in EOG Resources by 13.3% in the fourth quarter. Graypoint LLC now owns 4,579 shares of the energy exploration company’s stock valued at $561,000 after buying an additional 536 shares during the last quarter. LVM Capital Management Ltd. MI lifted its position in EOG Resources by 135.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 81,762 shares of the energy exploration company’s stock valued at $10,022,000 after buying an additional 46,991 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC lifted its position in EOG Resources by 227.5% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 5,689 shares of the energy exploration company’s stock valued at $726,000 after buying an additional 3,952 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.