Louisiana State Employees Retirement System Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

Louisiana State Employees Retirement System lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,300 shares of the energy exploration company’s stock after selling 1,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in EOG Resources were worth $3,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EOG. Brookstone Capital Management purchased a new position in EOG Resources during the third quarter valued at $217,000. Ritholtz Wealth Management raised its position in shares of EOG Resources by 3.6% in the 3rd quarter. Ritholtz Wealth Management now owns 4,220 shares of the energy exploration company’s stock worth $519,000 after purchasing an additional 147 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of EOG Resources in the 3rd quarter worth about $834,000. Wedge Capital Management L L P NC purchased a new position in shares of EOG Resources in the 3rd quarter worth about $3,093,000. Finally, Creative Planning raised its position in shares of EOG Resources by 0.9% in the 3rd quarter. Creative Planning now owns 209,875 shares of the energy exploration company’s stock worth $25,800,000 after purchasing an additional 1,773 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 2.6 %

EOG stock opened at $128.83 on Thursday. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. 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 stock has a market cap of $72.46 billion, a P/E ratio of 10.37, a PEG ratio of 3.36 and a beta of 1.27. The business’s 50-day moving average price is $127.79 and its 200-day moving average price is $127.37.

EOG Resources declared that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other 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 directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, 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. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EOG. KeyCorp lowered their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America reiterated a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Truist Financial lifted 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. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $150.00 to $155.00 in a report on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus 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.