Beacon Financial Group Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Beacon Financial Group reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,617 shares of the energy exploration company’s stock after selling 428 shares during the quarter. Beacon Financial Group’s holdings in EOG Resources were worth $934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EOG. Financial Life Planners purchased a new position in EOG Resources during the 4th quarter worth $25,000. Y.D. More Investments Ltd increased its holdings in EOG Resources by 149.4% during the 4th 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 purchased a new position in EOG Resources during the 3rd quarter worth $26,000. Decker Retirement Planning Inc. purchased a new position in EOG Resources during the 4th quarter worth $27,000. Finally, Keystone Financial Group Inc. purchased a new position in EOG Resources during the 4th quarter worth $27,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG opened at $128.83 on Thursday. The stock has a 50-day moving average of $127.79 and a two-hundred day moving average of $127.37. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market cap of $72.46 billion, a P/E ratio of 10.37, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated 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 transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on EOG. Truist Financial raised their price objective on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. KeyCorp dropped their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Citigroup increased 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. Finally, Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $150.00 to $155.00 in a research report on Wednesday. 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 data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

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.