EOG Resources, Inc. (NYSE:EOG) Position Reduced by Stack Financial Management Inc

Stack Financial Management Inc reduced its position in EOG Resources, Inc. (NYSE:EOG) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,355 shares of the energy exploration company’s stock after selling 1,249 shares during the period. EOG Resources comprises approximately 2.3% of Stack Financial Management Inc’s holdings, making the stock its 14th largest position. Stack Financial Management Inc’s holdings in EOG Resources were worth $25,295,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of EOG Resources in the third quarter valued at $32,860,000. Ballentine Partners LLC lifted its stake in EOG Resources by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 3,695 shares of the energy exploration company’s stock worth $454,000 after acquiring an additional 245 shares in the last quarter. Allworth Financial LP boosted its position in EOG Resources by 2.2% during the 3rd quarter. Allworth Financial LP now owns 7,585 shares of the energy exploration company’s stock worth $932,000 after acquiring an additional 163 shares during the period. Arkadios Wealth Advisors grew its stake in EOG Resources by 19.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 11,764 shares of the energy exploration company’s stock valued at $1,446,000 after acquiring an additional 1,902 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of EOG Resources by 77.5% in the 3rd quarter. PFG Investments LLC now owns 4,660 shares of the energy exploration company’s stock valued at $573,000 after purchasing an additional 2,034 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EOG. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Mizuho dropped 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 note on Monday, December 16th. Raymond James lifted their price objective on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.85.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

NYSE EOG opened at $133.50 on Tuesday. EOG Resources, Inc. has a 1 year low of $111.13 and a 1 year high of $139.67. The company has a fifty day simple moving average of $128.53 and a 200 day simple moving average of $127.83. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $75.08 billion, a P/E ratio of 10.75, a P/E/G ratio of 3.58 and a beta of 1.27.

EOG Resources declared that its Board of Directors has initiated a share buyback 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 buy up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.