Pinnacle Financial Partners Inc Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Pinnacle Financial Partners Inc lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,507 shares of the energy exploration company’s stock after selling 21,604 shares during the period. Pinnacle Financial Partners Inc’s holdings in EOG Resources were worth $21,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the period. Geode Capital Management LLC increased its holdings in shares of EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of EOG Resources by 5.0% during the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock worth $547,827,000 after buying an additional 214,497 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in shares of EOG Resources by 10.3% during the 4th quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock worth $221,510,000 after buying an additional 168,723 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction 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 approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of EOG stock opened at $133.10 on Friday. EOG Resources, Inc. has a 52-week low of $109.06 and a 52-week high of $139.67. The stock has a market cap of $74.86 billion, a PE ratio of 10.72, a PEG ratio of 3.55 and a beta of 1.27. 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 firm’s 50 day moving average price is $128.36 and its two-hundred day moving average price is $127.71.

EOG Resources announced that its Board of Directors has authorized a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on EOG shares. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Truist Financial lifted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and set a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Citigroup lifted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” 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.