Empowered Funds LLC Increases Position in EOG Resources, Inc. (NYSE:EOG)

Empowered Funds LLC increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,056 shares of the energy exploration company’s stock after purchasing an additional 15,518 shares during the period. EOG Resources makes up approximately 0.5% of Empowered Funds LLC’s portfolio, making the stock its 17th largest position. Empowered Funds LLC’s holdings in EOG Resources were worth $35,923,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC grew its position 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 valued at $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of EOG Resources by 577.8% in 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 purchasing an additional 593,823 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of EOG Resources by 42.8% in the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in shares of EOG Resources by 1,003.6% in the third quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock valued at $42,185,000 after purchasing an additional 312,064 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $483,560.00. Following the transaction, 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. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on EOG. Mizuho lowered their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Citigroup raised their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Performance

EOG Resources stock opened at $126.50 on Friday. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month high of $139.67. The company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.36 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. The firm’s fifty day moving average price is $127.80 and its 200 day moving average price is $127.28.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period last year, the business earned $3.44 EPS. On average, research analysts forecast that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources declared that its board has initiated a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.