EOG Resources (NYSE:EOG) Price Target Cut to $135.00 by Analysts at Piper Sandler

EOG Resources (NYSE:EOG) had its price target dropped by equities researchers at Piper Sandler from $141.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s price target indicates a potential upside of 10.52% from the stock’s previous close.

A number of other brokerages have also issued reports on EOG. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Morgan Stanley cut their target price on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

EOG Resources Stock Up 0.0 %

Shares of EOG opened at $122.15 on Thursday. EOG Resources has a one year low of $115.57 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $129.36 and a two-hundred day simple moving average of $127.76. The company has a market cap of $68.70 billion, a P/E ratio of 9.83, a P/E/G ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. Research analysts forecast that EOG Resources will post 11.47 EPS for the current fiscal year.

EOG Resources announced that its Board of Directors has initiated a stock buyback 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 buy up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EOG. Financial Life Planners bought a new stake in shares of EOG Resources during the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its position 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 worth $25,000 after purchasing an additional 121 shares during the period. Mainstream Capital Management LLC bought a new position in EOG Resources in the 4th quarter worth approximately $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources in the fourth quarter worth about $27,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of EOG Resources in the 4th quarter worth $27,000. Institutional investors own 89.91% of the company’s stock.

About EOG Resources

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.