NewEdge Wealth LLC Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

NewEdge Wealth LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,627 shares of the energy exploration company’s stock after acquiring an additional 11,825 shares during the period. NewEdge Wealth LLC’s holdings in EOG Resources were worth $17,973,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Simmons Bank boosted its stake in EOG Resources by 17.9% during the 4th quarter. Simmons Bank now owns 11,044 shares of the energy exploration company’s stock worth $1,354,000 after purchasing an additional 1,676 shares during the period. Checchi Capital Advisers LLC raised its holdings in shares of EOG Resources by 6.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 5,470 shares of the energy exploration company’s stock valued at $671,000 after buying an additional 311 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of EOG Resources by 24.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 9,105 shares of the energy exploration company’s stock worth $1,116,000 after buying an additional 1,777 shares during the period. Sabal Trust CO boosted its stake in shares of EOG Resources by 84.2% during the fourth quarter. Sabal Trust CO now owns 6,433 shares of the energy exploration company’s stock worth $789,000 after buying an additional 2,941 shares during the period. Finally, National Pension Service grew its holdings in shares of EOG Resources by 0.3% during the fourth quarter. National Pension Service now owns 1,275,736 shares of the energy exploration company’s stock worth $156,380,000 after buying an additional 4,140 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Price Performance

EOG stock opened at $129.70 on Thursday. 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’s 50 day moving average price is $128.90 and its 200 day moving average price is $127.87. The firm has a market cap of $72.95 billion, a P/E ratio of 10.44, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $112.11 and a 1 year high of $139.67.

EOG Resources announced that its board has approved a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

EOG has been the subject of several analyst reports. Piper Sandler upped their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Raymond James increased their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Finally, Citigroup lifted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.85.

Insider Activity

In other news, 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 transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.

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.