EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Piper Sandler Analyst Says

EOG Resources (NYSE:EOG) had its target price boosted by analysts at Piper Sandler from $140.00 to $141.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s price target suggests a potential upside of 8.85% from the company’s previous close.

A number of other research firms have also recently weighed in on EOG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Bank of America reissued a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. KeyCorp reduced their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research raised 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. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Trading Down 0.5 %

EOG Resources stock opened at $129.54 on Wednesday. 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 has a one year low of $108.94 and a one year high of $139.67. The stock has a market capitalization of $72.86 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29. The business’s fifty day moving average is $128.82 and its 200 day moving average is $127.41.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period last year, the firm posted $3.44 earnings per share. On average, sell-side analysts predict that EOG Resources will post 11.45 EPS for the current year.

EOG Resources announced that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value 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 approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Fisher Asset Management LLC boosted its stake in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of EOG Resources in the second quarter worth approximately $106,990,000. Assenagon Asset Management S.A. boosted its stake in shares of EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after acquiring an additional 593,823 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of EOG Resources by 42.8% in the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after acquiring an additional 333,947 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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.