Hartford Investment Management Co. Sells 1,031 Shares of EOG Resources, Inc. (NYSE:EOG)

Hartford Investment Management Co. lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,749 shares of the energy exploration company’s stock after selling 1,031 shares during the quarter. Hartford Investment Management Co.’s holdings in EOG Resources were worth $4,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EOG. Financial Life Planners purchased a new stake in EOG Resources during the 4th quarter valued at $25,000. Y.D. More Investments Ltd raised 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 valued at $25,000 after acquiring an additional 121 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources during the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth about $27,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth about $27,000. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on EOG shares. Mizuho lowered their price target 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. Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Piper Sandler upped their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.14.

EOG Resources Stock Performance

EOG stock opened at $128.83 on Thursday. The stock has a market capitalization of $72.46 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. The stock’s 50 day simple moving average is $127.79 and its 200 day simple moving average is $127.37. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month high of $139.67. 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 of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.