ING Groep NV Buys 75,292 Shares of EOG Resources, Inc. (NYSE:EOG)

ING Groep NV raised its stake in EOG Resources, Inc. (NYSE:EOG) by 99.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 151,337 shares of the energy exploration company’s stock after acquiring an additional 75,292 shares during the period. ING Groep NV’s holdings in EOG Resources were worth $18,551,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DRW Securities LLC grew its position in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC boosted its position in shares of 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 purchasing an additional 862 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of EOG Resources during the 3rd quarter valued at about $730,000. Mountain Lake Investment Management LLC bought a new stake in shares of EOG Resources during the 4th quarter valued at about $735,000. Finally, Oak Ridge Investments LLC boosted its position in shares of EOG Resources by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Finally, 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. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.14.

EOG Resources Stock Performance

EOG stock opened at $135.73 on Friday. The firm has a market cap of $76.34 billion, a PE ratio of 10.93, a P/E/G ratio of 3.46 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. The business has a 50 day moving average of $128.23 and a 200-day moving average of $127.64. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month high of $139.67.

EOG Resources declared that its board has initiated a stock 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.