Bank Pictet & Cie Europe AG Increases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Bank Pictet & Cie Europe AG raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 56.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,399 shares of the energy exploration company’s stock after purchasing an additional 89,521 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in EOG Resources were worth $30,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in EOG Resources in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd boosted its stake in shares of EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $27,000. Finally, Keystone Financial Group Inc. purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 0.3 %

Shares of EOG opened at $129.40 on Friday. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The stock has a fifty day moving average of $127.76 and a two-hundred day moving average of $127.39. The company has a market capitalization of $72.78 billion, a PE ratio of 10.42, 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 quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources announced that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EOG. Piper Sandler boosted their price target on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Bank of America reissued a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Mizuho cut their price objective 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. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve investment 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. Based on data from MarketBeat.com, EOG Resources 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.