New York Life Investment Management LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

New York Life Investment Management LLC cut its stake in EOG Resources, Inc. (NYSE:EOG) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,388 shares of the energy exploration company’s stock after selling 214 shares during the quarter. New York Life Investment Management LLC’s holdings in EOG Resources were worth $9,241,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. DRW Securities LLC boosted its stake in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after acquiring an additional 13,324 shares during the last quarter. Caprock Group LLC boosted its stake in EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of EOG Resources during the third quarter worth $730,000. Mountain Lake Investment Management LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $735,000. Finally, Oak Ridge Investments LLC lifted its stake in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after buying an additional 2,311 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’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 sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Stock Up 0.5 %

Shares of NYSE EOG opened at $130.55 on Friday. EOG Resources, Inc. has a 52-week low of $112.86 and a 52-week high of $139.67. The business’s 50 day moving average is $129.14 and its two-hundred day moving average is $127.89. The firm has a market cap of $73.43 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.58 and a beta of 1.27. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. Research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources declared that its board has approved a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Piper Sandler lifted their price objective on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Twelve 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 stock. According to MarketBeat, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $144.85.

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.