EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Edge Capital Group LLC

Edge Capital Group LLC raised its position in EOG Resources, Inc. (NYSE:EOG) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,639 shares of the energy exploration company’s stock after acquiring an additional 206 shares during the period. Edge Capital Group LLC’s holdings in EOG Resources were worth $1,549,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EOG. Financial Life Planners purchased a new position in EOG Resources in the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd grew its holdings in shares of EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources during the 4th quarter worth $27,000. Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources during the 4th quarter worth about $27,000. Finally, Eastern Bank purchased a new stake in EOG Resources in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $133.10 on Monday. EOG Resources, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The business’s fifty day moving average price is $128.36 and its 200 day moving average price is $127.78.

EOG Resources declared that its board has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EOG. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Mizuho dropped their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup boosted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.85.

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.