Michael T. Kerr, one of EOG Resources’ (NYSE:EOG) directors, purchased 20,000 shares of the company on January 12 at an average price of $130.49 per share. The total value of the transaction stands at $2.6 million. The company explores, develops, and markets crude oil and natural gas.
Overall, corporate insiders have bought EOG shares worth $930.4K over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in EOG stock is currently Negative.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is EOG Resources a Good Stock to Buy?
Last week, Mizuho Securities analyst Nitin Kumar downgraded EOG stock’s rating to Hold from Buy but raised the stock’s price target to $160 from $155. The analyst remains concerned about EOG’s near-term and long-term capital efficiencies.
According to TipRanks, EOG has a Strong Buy consensus rating based on 15 Buys and five Holds. The average stock price target of $157.35 implies about 21% upside potential to current levels.
Supporting the analysts’ stance, hedge funds have also increased their holdings of the stock. In the last quarter, hedge funds bought 1.1M shares of EOG. Overall, EOG scores a “Perfect 10” on TipRanks’ Smart Score rating system, pointing to its potential to outperform.
