EOG Resources (NYSE:EOG) Rating Increased to Buy at StockNews.com

EOG Resources (NYSE:EOG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other analysts have also recently issued research reports about the stock. UBS Group reduced their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays reduced their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $143.50.

EOG Resources Stock Up 0.7 %

Shares of EOG opened at $119.04 on Friday. The stock has a market capitalization of $66.95 billion, a PE ratio of 9.58, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The company’s 50-day simple moving average is $128.12 and its 200-day simple moving average is $126.38.

EOG Resources announced that its board has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Quotient Wealth Partners LLC increased its position in shares of EOG Resources by 5.2% during the second quarter. Quotient Wealth Partners LLC now owns 1,868 shares of the energy exploration company’s stock valued at $235,000 after buying an additional 92 shares during the period. LRI Investments LLC raised its position in EOG Resources by 4,143.5% during the 2nd quarter. LRI Investments LLC now owns 976 shares of the energy exploration company’s stock valued at $123,000 after purchasing an additional 953 shares during the last quarter. Capital Insight Partners LLC lifted its stake in EOG Resources by 2.6% in the second quarter. Capital Insight Partners LLC now owns 4,219 shares of the energy exploration company’s stock worth $531,000 after acquiring an additional 105 shares during the period. Tributary Capital Management LLC boosted its stake in shares of EOG Resources by 12.1% during the 2nd quarter. Tributary Capital Management LLC now owns 3,696 shares of the energy exploration company’s stock valued at $465,000 after purchasing an additional 400 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its position in shares of EOG Resources by 3.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 6,226 shares of the energy exploration company’s stock worth $784,000 after acquiring an additional 235 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

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.