QRG Capital Management Inc. Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

QRG Capital Management Inc. raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 66.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,491 shares of the energy exploration company’s stock after buying an additional 38,373 shares during the quarter. QRG Capital Management Inc.’s holdings in EOG Resources were worth $11,828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of EOG. Franklin Resources Inc. boosted its stake in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of EOG Resources by 577.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of EOG Resources during the fourth quarter valued at approximately $60,284,000. Finally, Empower Advisory Group LLC raised its holdings in EOG Resources by 21,218.1% in the 4th quarter. Empower Advisory Group LLC now owns 352,602 shares of the energy exploration company’s stock worth $43,222,000 after acquiring an additional 350,948 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Up 0.5 %

EOG stock opened at $130.55 on Friday. The company has a market capitalization of $73.43 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1-year low of $112.86 and a 1-year high of $139.67. The business has a 50 day simple moving average of $129.14 and a two-hundred day simple moving average of $127.89.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. Research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on EOG shares. Bank of America reiterated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, Truist Financial increased their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Twelve equities 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’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $144.85.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $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 is available through this link. Insiders own 0.30% of the company’s stock.

EOG Resources 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.