Denali Advisors LLC Purchases Shares of 4,200 EOG Resources, Inc. (NYSE:EOG)

Denali Advisors LLC acquired a new position in EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,200 shares of the energy exploration company’s stock, valued at approximately $515,000.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of EOG Resources by 3.6% during the third quarter. Nisa Investment Advisors LLC now owns 184,754 shares of the energy exploration company’s stock worth $22,712,000 after purchasing an additional 6,416 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in EOG Resources by 5.1% during the third quarter. Pallas Capital Advisors LLC now owns 2,089 shares of the energy exploration company’s stock valued at $260,000 after acquiring an additional 101 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in EOG Resources by 2.9% in the 3rd quarter. Integrated Advisors Network LLC now owns 25,370 shares of the energy exploration company’s stock valued at $3,119,000 after acquiring an additional 722 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of EOG Resources by 4.0% in the third quarter. Fidelis Capital Partners LLC now owns 13,177 shares of the energy exploration company’s stock worth $1,644,000 after purchasing an additional 502 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of EOG Resources by 0.3% in the third quarter. Pinnacle Associates Ltd. now owns 36,889 shares of the energy exploration company’s stock worth $4,462,000 after buying an additional 113 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $129.70 on Thursday. 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 stock has a market cap of $72.95 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The firm has a 50-day moving average of $128.90 and a two-hundred day moving average of $127.87. EOG Resources, Inc. has a 1 year low of $112.11 and a 1 year high of $139.67.

EOG Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Piper Sandler increased their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Raymond James increased their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Mizuho dropped their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.