Conning Inc. Trims Stake in EOG Resources, Inc. (NYSE:EOG)

Conning Inc. lowered its position in EOG Resources, Inc. (NYSE:EOG) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,463 shares of the energy exploration company’s stock after selling 17,525 shares during the quarter. Conning Inc.’s holdings in EOG Resources were worth $34,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DRW Securities LLC raised its stake in shares of EOG Resources by 98.6% in the third 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 increased its stake in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after buying an additional 862 shares during the period. World Investment Advisors LLC purchased a new position in EOG Resources in the 3rd quarter worth about $730,000. Oak Ridge Investments LLC increased its stake in EOG Resources by 5.9% in the 4th 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 period. Finally, KBC Group NV increased its stake in EOG Resources by 11.4% in the 3rd 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 period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 0.1 %

EOG stock opened at $126.50 on Friday. The firm has a 50 day moving average of $127.93 and a 200 day moving average of $127.28. The stock has a market capitalization of $71.15 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67.

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

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

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred 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 completion of the sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on EOG. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler raised their price target on shares of 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 reaffirmed a “neutral” rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Raymond James raised their target price on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.