Checchi Capital Advisers LLC raised its holdings in EOG Resources, Inc. (NYSE:EOG – Free Report) by 6.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,470 shares of the energy exploration company’s stock after purchasing an additional 311 shares during the period. Checchi Capital Advisers LLC’s holdings in EOG Resources were worth $671,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DRW Securities LLC raised its position in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC raised its position in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares during the period. World Investment Advisors LLC purchased a new stake in EOG Resources in the third quarter valued at $730,000. Mountain Lake Investment Management LLC purchased a new stake in EOG Resources in the fourth quarter valued at $735,000. Finally, Oak Ridge Investments LLC raised its position in 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 valued at $5,059,000 after purchasing an additional 2,311 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.
Insider Activity
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 value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
EOG Resources Trading Down 1.2 %
EOG Resources announced that its board has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Mizuho dropped their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average price target of $144.85.
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.
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