Ledyard National Bank Acquires 12,993 Shares of EOG Resources, Inc. (NYSE:EOG)

Ledyard National Bank boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 90.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,318 shares of the energy exploration company’s stock after purchasing an additional 12,993 shares during the quarter. Ledyard National Bank’s holdings in EOG Resources were worth $3,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EOG. Financial Life Planners bought a new stake in shares of EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd grew its holdings in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares during the period. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources during the fourth quarter valued at about $27,000. Finally, Eastern Bank bought a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Down 1.1 %

Shares of NYSE:EOG opened at $126.34 on Friday. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. The company has a market capitalization of $71.06 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The business has a fifty day moving average price of $128.07 and a two-hundred day moving average price of $127.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same quarter last year, the company posted $3.44 earnings per share. Analysts forecast that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

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 completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research reports. Bank of America reaffirmed a “neutral” rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler upped their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Citigroup lifted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.90.

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.