EOG Resources (NYSE:EOG – Get Free Report) had its price target raised by analysts at Raymond James from $167.00 to $175.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James’ price objective indicates a potential upside of 30.43% from the stock’s previous close.
A number of other analysts have also recently commented on the company. KeyCorp reduced their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Evercore ISI dropped their price objective 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. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $143.86.
Check Out Our Latest Report on EOG Resources
EOG Resources Stock Up 0.1 %
EOG Resources (NYSE:EOG – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.16. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period in the prior year, the business posted $3.44 earnings per share. On average, research analysts expect that EOG Resources will post 11.45 EPS for the current fiscal year.
EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Insider Transactions at EOG Resources
In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was 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 owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, 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 position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On EOG Resources
Several institutional investors have recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new position in EOG Resources in the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources in the 4th quarter valued at $27,000. Eastern Bank bought a new position in shares of EOG Resources in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP acquired a new position in shares of EOG Resources during the 3rd quarter worth $31,000. Finally, HM Payson & Co. lifted its position 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 buying an additional 220 shares during the last quarter. 89.91% of the stock is currently owned by 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.
See Also
- Five stocks we like better than EOG Resources
- What is a Low P/E Ratio and What Does it Tell Investors?
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- How to Invest in Insurance Companies: A Guide
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- Consumer Staples Stocks, Explained
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.