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

by · The Markets Daily

EOG Resources (NYSE:EOG – Get Free Report) had its target price raised by research analysts at Truist Financial from $135.00 to $137.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price points to a potential upside of 3.15% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Barclays decreased their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Piper Sandler cut their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average target price of $143.48.

Read Our Latest Research Report on EOG

EOG Resources Stock Up 1.1 %

EOG stock traded up $1.41 during trading on Monday, reaching $132.82. 320,075 shares of the stock were exchanged, compared to its average volume of 2,800,542. 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 twelve month low of $108.94 and a twelve month high of $139.67. The firm’s 50 day moving average is $127.97 and its 200 day moving average is $126.70. The firm has a market cap of $74.70 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29.

EOG Resources announced that its board has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically 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 shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC grew its stake in EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after buying an additional 403,676 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

About EOG Resources

(Get Free Report)

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.

Read More