First Merchants Corp Has $7.85 Million Position in EOG Resources, Inc. (NYSE:EOG)

First Merchants Corp increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.3% during the 4th quarter, Holdings Channel reports. The fund owned 64,029 shares of the energy exploration company’s stock after acquiring an additional 217 shares during the period. First Merchants Corp’s holdings in EOG Resources were worth $7,849,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. DRW Securities LLC grew its stake in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the period. Caprock Group LLC boosted its holdings in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares in the last quarter. World Investment Advisors LLC acquired a new stake in EOG Resources in the third quarter valued at approximately $730,000. Oak Ridge Investments LLC increased its holdings in shares of EOG Resources by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after acquiring an additional 2,311 shares in the last quarter. Finally, KBC Group NV raised its position in shares of EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, 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 currently owned by insiders.

EOG Resources Stock Up 0.1 %

EOG opened at $128.94 on Friday. The company’s 50-day moving average price is $127.78 and its two-hundred day moving average price is $127.38. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. The stock has a market cap of $72.52 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its board has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on EOG shares. Citigroup lifted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial lifted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Raymond James increased their price objective on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

About EOG Resources

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.