Mizuho Lowers EOG Resources (NYSE:EOG) Price Target to $148.00

EOG Resources (NYSE:EOG) had its price target dropped by equities researchers at Mizuho from $156.00 to $148.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the energy exploration company’s stock. Mizuho’s price target would indicate a potential upside of 16.75% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Raymond James upped their price target on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. KeyCorp dropped their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $147.00 to $149.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Scotiabank reduced their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $143.80.

EOG Resources Trading Up 0.2 %

Shares of EOG Resources stock opened at $126.77 on Monday. The stock has a market capitalization of $71.30 billion, a P/E ratio of 10.21, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources has a 52-week low of $108.94 and a 52-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 stock’s 50-day simple moving average is $129.23 and its 200 day simple moving average is $126.43.

EOG Resources declared that its Board of Directors has approved a share repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the second quarter worth approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the third quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources during the 3rd quarter valued at $31,000. Finally, HM Payson & Co. raised its holdings in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. 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.