Citigroup Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target raised by analysts at Citigroup from $127.00 to $134.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy exploration company’s stock. Citigroup’s price target would indicate a potential upside of 0.70% from the company’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company upped their price target on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Finally, Morgan Stanley cut their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $144.20.

EOG Resources Price Performance

Shares of NYSE EOG opened at $133.07 on Tuesday. The company has a 50 day moving average of $128.52 and a 200 day moving average of $126.22. 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 twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market cap of $74.85 billion, a P/E ratio of 10.71, a PEG ratio of 3.51 and a beta of 1.28.

EOG Resources announced that its board has initiated a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently modified their holdings of EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter worth $26,000. Riverview Trust Co bought a new stake in shares of EOG Resources in the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 2nd quarter worth about $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources during the 2nd quarter valued at about $30,000. Hedge funds and other 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.