Valley Wealth Managers Inc. Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Valley Wealth Managers Inc. cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 28.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,384 shares of the energy exploration company’s stock after selling 8,798 shares during the quarter. Valley Wealth Managers Inc.’s holdings in EOG Resources were worth $2,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. DRW Securities LLC lifted its stake in EOG Resources by 98.6% during the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after acquiring an additional 13,324 shares during the period. Caprock Group LLC grew its holdings in EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of EOG Resources in the third quarter valued at $730,000. Oak Ridge Investments LLC lifted its position in EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after buying an additional 2,311 shares during the last quarter. Finally, KBC Group NV lifted its position in EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $129.40 on Tuesday. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. The business has a fifty day simple moving average of $127.79 and a 200 day simple moving average of $127.43. 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 firm has a market cap of $72.78 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Citigroup boosted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Mizuho dropped their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Raymond James lifted their target price on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.14.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

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.