Sierra Ocean LLC Acquires Shares of 259 EOG Resources, Inc. (NYSE:EOG)

Sierra Ocean LLC bought a new stake in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 259 shares of the energy exploration company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global Retirement Partners LLC raised its position in EOG Resources by 21.4% in the 3rd quarter. Global Retirement Partners LLC now owns 2,907 shares of the energy exploration company’s stock worth $357,000 after purchasing an additional 512 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the 3rd quarter valued at $26,000. Raleigh Capital Management Inc. raised its position in shares of EOG Resources by 106.1% during the third quarter. Raleigh Capital Management Inc. now owns 470 shares of the energy exploration company’s stock worth $58,000 after acquiring an additional 242 shares during the last quarter. Ledyard National Bank lifted its stake in shares of EOG Resources by 31.0% during the third quarter. Ledyard National Bank now owns 14,325 shares of the energy exploration company’s stock valued at $1,761,000 after acquiring an additional 3,388 shares during the period. Finally, Telos Capital Management Inc. boosted its holdings in EOG Resources by 5.7% in the third quarter. Telos Capital Management Inc. now owns 59,294 shares of the energy exploration company’s stock valued at $7,289,000 after acquiring an additional 3,214 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE EOG opened at $130.92 on Wednesday. The company has a fifty day moving average price of $127.82 and a 200 day moving average price of $127.48. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67. The firm has a market cap of $73.63 billion, a PE ratio of 10.54, a PEG ratio of 3.36 and a beta of 1.27. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

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

Insider Activity at EOG Resources

In other news, 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 value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Citigroup upped their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Raymond James raised their price target on 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, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.14.

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.