Bank Pictet & Cie Europe AG Grows Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Bank Pictet & Cie Europe AG raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 56.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,399 shares of the energy exploration company’s stock after buying an additional 89,521 shares during the period. Bank Pictet & Cie Europe AG’s holdings in EOG Resources were worth $30,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of EOG Resources during the fourth quarter worth $25,000. Y.D. More Investments Ltd boosted its position in shares of EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources during the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources during the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

EOG has been the topic of several analyst reports. Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Truist Financial increased their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, 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 research note on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Stock Up 0.3 %

EOG opened at $129.40 on Friday. The business’s 50-day simple moving average is $127.76 and its 200-day simple moving average is $127.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The stock has a market capitalization of $72.78 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its Board of Directors has authorized a share buyback 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 reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.