EOG Resources, Inc. (NYSE:EOG) Shares Sold by Beacon Financial Group

Beacon Financial Group trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,617 shares of the energy exploration company’s stock after selling 428 shares during the period. Beacon Financial Group’s holdings in EOG Resources were worth $934,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in EOG Resources in the 4th quarter worth about $25,000. Y.D. More Investments Ltd boosted its holdings in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in EOG Resources in the 3rd quarter worth about $26,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the 4th quarter worth about $27,000. Finally, Keystone Financial Group Inc. acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Raymond James upped their price target 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, Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $150.00 to $155.00 in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.14.

EOG Resources Trading Down 2.6 %

EOG opened at $128.83 on Thursday. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67. The business has a fifty day simple moving average of $127.79 and a 200-day simple moving average of $127.37. The firm has a market cap of $72.46 billion, a P/E ratio of 10.37, a P/E/G ratio of 3.36 and a beta of 1.27. 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 announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.