EOG Resources (NYSE:EOG) Stock Rating Lowered by StockNews.com

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

EOG has been the subject of a number of other reports. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Bank of America reissued a “neutral” rating and set a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Finally, Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Thirteen investment 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. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $144.14.

EOG Resources Trading Down 1.9 %

EOG stock traded down $2.57 during midday trading on Friday, hitting $133.10. 3,456,803 shares of the company’s stock were exchanged, compared to its average volume of 2,865,626. EOG Resources has a one year low of $109.06 and a one year high of $139.67. The stock’s fifty day moving average price is $128.36 and its 200-day moving average price is $127.71. The company has a market cap of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.55 and a beta of 1.27. 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 announced that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were 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 in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EOG. Wealthfront Advisers LLC grew its position in shares of EOG Resources by 4,642.2% in the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after purchasing an additional 2,792,092 shares during the last quarter. Capital World Investors grew its holdings in EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Franklin Resources Inc. increased its position in EOG Resources by 64.7% during 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 period. Raymond James Financial Inc. bought a new stake in shares of EOG Resources in the fourth quarter valued at about $171,193,000. Finally, Fisher Asset Management LLC grew its stake in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. 89.91% of the stock is owned by 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.