Sumitomo Mitsui Trust Group Inc. Has $173.87 Million Position in EOG Resources, Inc. (NYSE:EOG)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,418,424 shares of the energy exploration company’s stock after buying an additional 1,355 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in EOG Resources were worth $173,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new stake in EOG Resources during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd increased its stake 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 purchasing an additional 121 shares during the period. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources in the 4th quarter valued at $27,000. Finally, Eastern Bank acquired a new position in EOG Resources in the 3rd quarter valued at $28,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 0.1 %

Shares of EOG Resources stock opened at $126.50 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $127.93 and a 200 day simple moving average of $127.28. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month high of $139.67. The company has a market capitalization of $71.15 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period last year, the firm earned $3.44 earnings per share. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.46 earnings per share for the current fiscal year.

EOG Resources declared that its board has authorized a share 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. KeyCorp decreased their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial raised their price objective on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $143.90.

EOG Resources Company 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.