EOG Resources (NYSE:EOG) Price Target Cut to $146.00 by Analysts at Barclays

EOG Resources (NYSE:EOG) had its target price decreased by stock analysts at Barclays from $148.00 to $146.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s target price points to a potential upside of 14.97% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Citigroup lifted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Twelve equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.30.

EOG Resources Stock Down 2.8 %

EOG Resources stock traded down $3.62 during trading on Friday, reaching $126.99. The stock had a trading volume of 6,868,662 shares, compared to its average volume of 2,925,432. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources has a 52-week low of $113.83 and a 52-week high of $139.67. The stock has a market cap of $71.43 billion, a PE ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27. The business has a 50 day moving average price of $129.14 and a 200 day moving average price of $127.89.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. On average, analysts predict that EOG Resources will post 11.47 EPS for the current year.

EOG Resources announced that its Board of Directors has approved 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 repurchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s 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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of EOG Resources in the 4th quarter valued at about $26,062,000. Heck Capital Advisors LLC acquired a new position in EOG Resources during the 4th quarter valued at about $78,000. Ameriflex Group Inc. bought a new stake in EOG Resources during the 4th quarter worth approximately $36,000. American Trust boosted its holdings in EOG Resources by 7.9% during the 4th quarter. American Trust now owns 29,952 shares of the energy exploration company’s stock worth $3,672,000 after acquiring an additional 2,183 shares during the last quarter. Finally, Ascent Group LLC increased its stake in EOG Resources by 5.5% in the 4th quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company’s stock valued at $2,169,000 after buying an additional 924 shares during the last quarter. Institutional investors 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.