Principal Financial Group Inc. Has $298.25 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Principal Financial Group Inc. reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,433,072 shares of the energy exploration company’s stock after selling 13,369 shares during the quarter. Principal Financial Group Inc.’s holdings in EOG Resources were worth $298,246,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of 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 valued at $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC lifted its stake 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 valued at $147,621,000 after acquiring an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of EOG Resources by 577.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after acquiring an additional 593,823 shares during the period. Victory Capital Management Inc. increased its stake in shares of EOG Resources by 42.8% during the 3rd 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 last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of EOG Resources by 1,003.6% in the 3rd quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock valued at $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.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $129.40 on Tuesday. The company has a 50 day moving average of $127.79 and a 200-day moving average of $127.43. 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 current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67.

EOG Resources declared that its board has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America reissued a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. 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 research note on Friday, January 3rd. Truist Financial lifted 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. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Twelve investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.