State of Alaska Department of Revenue Sells 11,445 Shares of EOG Resources, Inc. (NYSE:EOG)

State of Alaska Department of Revenue decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,542 shares of the energy exploration company’s stock after selling 11,445 shares during the quarter. State of Alaska Department of Revenue’s holdings in EOG Resources were worth $9,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of EOG Resources during the 4th quarter worth about $25,000. Y.D. More Investments Ltd raised its holdings in 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 acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new position in EOG Resources in the fourth quarter valued at approximately $27,000. Finally, Eastern Bank bought a new stake in shares of EOG Resources during the 3rd quarter worth approximately $28,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned 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 $143.90.

EOG Resources Price Performance

EOG Resources stock opened at $126.34 on Friday. The firm has a market cap of $71.06 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock’s fifty day moving average price is $128.07 and its two-hundred day moving average price is $127.29.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the prior year, the business posted $3.44 earnings per share. As a group, research analysts expect that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources announced that its Board of Directors has approved a share buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.