WESPAC Advisors LLC Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

WESPAC Advisors LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 24.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,498 shares of the energy exploration company’s stock after acquiring an additional 1,471 shares during the period. WESPAC Advisors LLC’s holdings in EOG Resources were worth $919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Insight Inv LLC increased its holdings in EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after buying an additional 75 shares during the last quarter. Essex Financial Services Inc. grew its holdings in shares of EOG Resources by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after purchasing an additional 79 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after purchasing an additional 79 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of EOG Resources by 8.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of EOG Resources by 3.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock valued at $358,000 after purchasing an additional 84 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EOG has been the subject of several recent research reports. Piper Sandler upped their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Raymond James upped their target price on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Mizuho lowered their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Citigroup boosted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $144.14.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

EOG Resources Stock Performance

EOG opened at $133.10 on Friday. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67. The business has a 50 day moving average price of $128.36 and a two-hundred day moving average price of $127.75.

EOG Resources declared that its board has initiated a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About EOG Resources

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.