Truist Financial Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOGGet Free Report) had its price objective increased by stock analysts at Truist Financial from $135.00 to $137.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price suggests a potential upside of 0.80% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a report on Monday, January 6th. Piper Sandler cut their price objective on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Scotiabank cut their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Barclays cut their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, 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 report on Monday. Thirteen research 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. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $143.48.

Get Our Latest Stock Analysis on EOG

EOG Resources Trading Up 1.1 %

Shares of EOG stock opened at $135.91 on Monday. The stock’s fifty day moving average price is $128.48 and its two-hundred day moving average price is $126.84. The company has a market cap of $76.44 billion, a PE ratio of 10.94, a P/E/G ratio of 3.37 and a beta of 1.29. EOG Resources has a fifty-two week low of $108.94 and a fifty-two 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.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the 3rd quarter valued at about $26,000. Eastern Bank purchased a new position in shares of EOG Resources in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of EOG Resources in the 3rd quarter worth approximately $31,000. HM Payson & Co. boosted its stake in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in shares of EOG Resources in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

(Get Free Report)

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.

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Analyst Recommendations for EOG Resources (NYSE:EOG)

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