New Mexico Educational Retirement Board Has $3.33 Million Position in EOG Resources, Inc. (NYSE:EOG)

New Mexico Educational Retirement Board cut its position in EOG Resources, Inc. (NYSE:EOG) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,158 shares of the energy exploration company’s stock after selling 900 shares during the period. New Mexico Educational Retirement Board’s holdings in EOG Resources were worth $3,329,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EOG. Franklin Resources Inc. raised its holdings in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Fisher Asset Management LLC raised its holdings in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after purchasing an additional 1,075,334 shares during the period. Assenagon Asset Management S.A. raised its holdings in EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after purchasing an additional 593,823 shares during the period. Victory Capital Management Inc. raised its holdings in EOG Resources by 42.8% in the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after purchasing an additional 333,947 shares during the period. Finally, Bridgewater Associates LP raised its holdings in EOG Resources by 1,003.6% in the third quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock worth $42,185,000 after purchasing an additional 312,064 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG opened at $129.40 on Friday. The firm has a 50-day moving average of $127.79 and a 200-day moving average of $127.42. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The company has a market cap of $72.78 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. 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 has initiated a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in 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 board believes its stock is undervalued.

Analysts Set New Price Targets

EOG has been the topic of several analyst reports. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Truist Financial increased their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Mizuho lowered their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler increased their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.14.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.