Proficio Capital Partners LLC Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Proficio Capital Partners LLC acquired a new position in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 491,795 shares of the energy exploration company’s stock, valued at approximately $60,284,000.

A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 buying an additional 75,194 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of EOG Resources by 1.5% in 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 buying an additional 180,755 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of 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 worth $547,827,000 after buying an additional 214,497 shares in the last quarter. Finally, Yacktman Asset Management LP raised its holdings in shares of EOG Resources by 10.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock worth $221,510,000 after buying an additional 168,723 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Up 0.5 %

NYSE:EOG opened at $130.55 on Friday. EOG Resources, Inc. has a 12-month low of $112.86 and a 12-month high of $139.67. 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 capitalization of $73.43 billion, a P/E ratio of 10.51, a P/E/G ratio of 3.58 and a beta of 1.27. The stock’s fifty day simple moving average is $129.14 and its 200-day simple moving average is $127.89.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding 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 typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

EOG has been the subject of a number of recent research reports. Bank of America reissued a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Raymond James raised 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. Piper Sandler raised their price target on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Citigroup raised 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. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.85.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

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.