Sunpointe LLC Acquires Shares of 1,924 EOG Resources, Inc. (NYSE:EOG)

Sunpointe LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,924 shares of the energy exploration company’s stock, valued at approximately $236,000.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the period. Geode Capital Management LLC lifted its stake in shares of EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after acquiring an additional 180,755 shares during the last quarter. Franklin Resources Inc. boosted its holdings in EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after acquiring an additional 2,076,134 shares during the period. Pacer Advisors Inc. grew its position in EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the last quarter. Finally, Yacktman Asset Management LP increased its stake in EOG Resources by 10.3% in the fourth quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock worth $221,510,000 after purchasing an additional 168,723 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EOG shares. Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Raymond James upped their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $144.14.

Insiders Place Their Bets

In other EOG Resources news, 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 value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 2.7 %

NYSE EOG opened at $134.52 on Thursday. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67. The company has a 50 day moving average price of $128.05 and a 200 day moving average price of $127.59. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm has a market cap 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.

EOG Resources declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.