Barclays Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective decreased by stock analysts at Barclays from $148.00 to $146.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s price target indicates a potential upside of 14.97% from the company’s current price.

EOG has been the subject of a number of other reports. Benchmark restated 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 from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Piper Sandler boosted their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Mizuho decreased their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.30.

EOG Resources Trading Down 2.8 %

Shares of EOG Resources stock traded down $3.62 during midday trading on Friday, reaching $126.99. 6,868,662 shares of the company’s stock traded hands, compared to its average volume of 2,925,432. The stock has a 50 day moving average of $129.14 and a 200-day moving average of $127.89. The company has a market cap of $71.43 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 3.58 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 has a 12 month low of $113.83 and a 12 month high of $139.67.

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

EOG Resources announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling 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 value of $483,560.00. Following the transaction, the chief operating officer now directly 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 the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its position in shares of EOG Resources by 5.2% during 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 purchasing an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after acquiring an additional 234,067 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of EOG Resources by 2.9% during the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after buying an additional 159,216 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after acquiring an additional 365,115 shares in 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.