6,000 Shares in EOG Resources, Inc. (NYSE:EOG) Bought by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the energy exploration company’s stock, valued at approximately $735,000. EOG Resources accounts for about 0.9% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new position in EOG Resources during the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its holdings in 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 worth $25,000 after acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in EOG Resources during the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new position in EOG Resources during the fourth quarter worth about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources during the fourth quarter worth about $27,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 0.3 %

Shares of EOG stock opened at $129.40 on Friday. The stock has a market cap of $72.78 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. The stock has a 50 day simple moving average of $127.79 and a 200 day simple moving average of $127.42. 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 authorized a share buyback program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 sale, the chief operating officer now 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on EOG. Mizuho reduced their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Citigroup boosted their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Company 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.