EOG Resources, Inc. (NYSE:EOG) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,627 shares of the energy exploration company’s stock after acquiring an additional 11,825 shares during the quarter. NewEdge Wealth LLC’s holdings in EOG Resources were worth $17,973,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EOG. Simmons Bank increased its position in EOG Resources by 17.9% during the fourth quarter. Simmons Bank now owns 11,044 shares of the energy exploration company’s stock worth $1,354,000 after purchasing an additional 1,676 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of EOG Resources by 6.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 5,470 shares of the energy exploration company’s stock worth $671,000 after buying an additional 311 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of EOG Resources by 24.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 9,105 shares of the energy exploration company’s stock worth $1,116,000 after buying an additional 1,777 shares during the period. Sabal Trust CO boosted its holdings in EOG Resources by 84.2% in the fourth quarter. Sabal Trust CO now owns 6,433 shares of the energy exploration company’s stock valued at $789,000 after acquiring an additional 2,941 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of EOG Resources by 0.3% during the 4th quarter. National Pension Service now owns 1,275,736 shares of the energy exploration company’s stock worth $156,380,000 after purchasing an additional 4,140 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 1.2 %

Shares of NYSE EOG opened at $129.70 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $128.90 and its two-hundred day moving average price is $127.87. EOG Resources, Inc. has a 52-week low of $112.11 and a 52-week high of $139.67. The stock has a market capitalization of $72.95 billion, a P/E ratio of 10.44, a PEG ratio of 3.58 and a beta of 1.27.

EOG Resources declared that its Board of Directors has approved a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EOG. Truist Financial upped their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given 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 target price of $144.85.

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.