EOG Resources, Inc. (NYSE:EOG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,775 shares of the energy exploration company’s stock after selling 3,570 shares during the period. Retirement Systems of Alabama’s holdings in EOG Resources were worth $14,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cassia Capital Partners LLC acquired a new position in EOG Resources in the 4th quarter valued at $582,000. 1858 Wealth Management LLC lifted its position in EOG Resources by 7.4% during the fourth quarter. 1858 Wealth Management LLC now owns 8,380 shares of the energy exploration company’s stock worth $1,027,000 after buying an additional 581 shares during the period. Mather Group LLC. boosted its stake in EOG Resources by 6.5% in the 4th quarter. Mather Group LLC. now owns 8,413 shares of the energy exploration company’s stock worth $1,031,000 after buying an additional 513 shares during the last quarter. RBA Wealth Management LLC grew its holdings in EOG Resources by 4.4% in the 4th quarter. RBA Wealth Management LLC now owns 20,028 shares of the energy exploration company’s stock valued at $2,455,000 after buying an additional 846 shares during the period. Finally, Patron Partners LLC increased its position in EOG Resources by 10.7% during the fourth quarter. Patron Partners LLC now owns 2,461 shares of the energy exploration company’s stock worth $302,000 after purchasing an additional 238 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Down 0.1 %

EOG stock opened at $126.50 on Friday. The firm’s 50-day moving average is $127.93 and its two-hundred day moving average is $127.28. 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 company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company earned $3.44 earnings per share. On average, analysts forecast that EOG Resources, Inc. will post 11.46 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated 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 $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

EOG has been the subject of several research analyst reports. Mizuho dropped their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Raymond James raised their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler boosted their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $143.90.

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.