Truist Financial Corp Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

Truist Financial Corp lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 127,632 shares of the energy exploration company’s stock after selling 2,359 shares during the quarter. Truist Financial Corp’s holdings in EOG Resources were worth $15,645,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its stake in shares of EOG Resources by 106.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 470 shares of the energy exploration company’s stock worth $58,000 after acquiring an additional 242 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of EOG Resources by 10.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,838 shares of the energy exploration company’s stock worth $226,000 after acquiring an additional 178 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of EOG Resources during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Piper Sandler upped their price target on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Twelve 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $134.52 on Thursday. The company’s fifty day moving average price is $128.05 and its 200 day moving average price is $127.59. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. The company has a market capitalization of $75.66 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About EOG Resources

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.