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

EOG Resources (NYSE:EOG) had its price objective hoisted by research analysts at Truist Financial from $115.00 to $135.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s price objective would suggest a potential upside of 0.49% from the stock’s current price.

A number of other research firms have also weighed in on EOG. UBS Group cut their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI reduced their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. KeyCorp cut their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, 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. Thirteen 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, the company presently has an average rating of “Hold” and a consensus target price of $142.20.

EOG Resources Trading Up 0.9 %

Shares of EOG stock opened at $134.34 on Tuesday. The stock has a market capitalization of $75.56 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a 50 day moving average price of $125.47 and a 200 day moving average price of $125.92.

EOG Resources declared that its Board of Directors has initiated a share repurchase 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 usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. 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

Several institutional investors have recently bought and sold shares of EOG. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the third quarter valued at about $26,000. Riverview Trust Co acquired a new stake in EOG Resources in the second quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in EOG Resources in the 2nd quarter valued at approximately $28,000. Eastern Bank acquired a new position in EOG Resources during the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $30,000. 89.91% of the stock is 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.