Pekin Hardy Strauss Inc. Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Pekin Hardy Strauss Inc. decreased its position in EOG Resources, Inc. (NYSE:EOG) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,472 shares of the energy exploration company’s stock after selling 2,180 shares during the period. Pekin Hardy Strauss Inc.’s holdings in EOG Resources were worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Insight Inv LLC raised its stake in shares of EOG Resources by 0.8% during the 3rd 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 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 worth $753,000 after acquiring an additional 79 shares during the period. Valmark Advisers Inc. grew its holdings in EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock worth $385,000 after acquiring an additional 79 shares during the period. Deseret Mutual Benefit Administrators raised its position in 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 acquiring an additional 80 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in EOG Resources by 3.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock valued at $358,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James upped their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $144.14.

EOG Resources Stock Performance

NYSE:EOG opened at $133.10 on Friday. The company has a market cap of $74.86 billion, a P/E ratio of 10.72, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. The company’s 50-day moving average price is $128.36 and its 200-day moving average price is $127.75. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has approved a share buyback plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

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.