EOG Resources (NYSE:EOG) Raised to “Outperform” at Royal Bank of Canada

EOG Resources (NYSE:EOG) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $155.00 price objective on the energy exploration company’s stock, up from their prior price objective of $150.00. Royal Bank of Canada’s price objective would indicate a potential upside of 20.21% from the stock’s previous close.

EOG has been the topic of a number of other reports. Bank of America reiterated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Raymond James increased their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. KeyCorp lowered 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. Citigroup raised their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Stock Up 0.1 %

Shares of EOG opened at $128.94 on Wednesday. The company’s 50-day simple moving average is $127.78 and its 200-day simple moving average is $127.38. 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 $109.06 and a 1 year high of $139.67. The stock has a market capitalization of $72.52 billion, a PE ratio of 10.38, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its board has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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 company’s stock in a transaction 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 transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in EOG Resources during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its stake in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in EOG Resources during the fourth quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in EOG Resources in the third quarter worth $26,000. Finally, Decker Retirement Planning Inc. purchased a new position in EOG Resources in the fourth quarter worth $27,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.