Paradigm Asset Management Co. LLC Cuts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Paradigm Asset Management Co. LLC lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 7.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,500 shares of the energy exploration company’s stock after selling 1,450 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in EOG Resources were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. Cassaday & Co Wealth Management LLC bought a new stake in EOG Resources in the fourth quarter worth about $323,000. Compass Capital Corp MA ADV acquired a new stake in shares of EOG Resources during the fourth quarter worth $229,000. Cordatus Wealth Management LLC lifted its stake in shares of EOG Resources by 5.5% during the fourth quarter. Cordatus Wealth Management LLC now owns 5,703 shares of the energy exploration company’s stock worth $699,000 after buying an additional 295 shares during the period. ING Groep NV lifted its position in EOG Resources by 99.0% during the fourth quarter. ING Groep NV now owns 151,337 shares of the energy exploration company’s stock valued at $18,551,000 after purchasing an additional 75,292 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in EOG Resources by 8.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 7,703 shares of the energy exploration company’s stock valued at $944,000 after buying an additional 600 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction 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. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EOG shares. Mizuho cut their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Citigroup increased their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Raymond James raised their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and an average target price of $144.14.

EOG Resources Stock Up 0.9 %

EOG opened at $135.73 on Friday. The company has a market capitalization of $76.34 billion, a P/E ratio of 10.93, a P/E/G ratio of 3.55 and a beta of 1.27. The firm’s fifty day moving average price is $128.23 and its two-hundred day moving average price is $127.64. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week 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.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.