Piper Sandler Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price decreased by investment analysts at Piper Sandler from $149.00 to $140.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s target price points to a potential upside of 17.03% from the company’s current price.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Morgan Stanley reduced their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Truist Financial increased their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. KeyCorp dropped their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Susquehanna decreased their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Fourteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $143.50.

EOG Resources Stock Performance

NYSE EOG opened at $119.63 on Tuesday. The firm has a market cap of $67.29 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 3.39 and a beta of 1.29. 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 1-year low of $108.94 and a 1-year high of $139.67. The company has a 50 day moving average of $128.67 and a 200-day moving average of $126.39.

EOG Resources declared that its board has authorized a stock buyback 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 purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was 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 in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares during the period. Fisher Asset Management LLC raised its stake in shares of EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EOG Resources in the second quarter valued at about $106,990,000. Legal & General Group Plc boosted its position in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock worth $61,741,000 after buying an additional 343,527 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.