Louisiana State Employees Retirement System Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Louisiana State Employees Retirement System cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 30,300 shares of the energy exploration company’s stock after selling 1,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in EOG Resources were worth $3,714,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd raised its holdings 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. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

EOG opened at $128.83 on Thursday. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month high of $139.67. 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 business’s fifty day simple moving average is $127.79 and its 200-day simple moving average is $127.37. The company has a market capitalization of $72.46 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 3.36 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $155.00 in a report on Wednesday. Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Raymond James boosted their target price 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. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and an average price target of $144.14.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

EOG Resources 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.