Strategic Financial Concepts LLC Buys New Stake in EOG Resources, Inc. (NYSE:EOG)

Strategic Financial Concepts LLC bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,665 shares of the energy exploration company’s stock, valued at approximately $1,675,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DRW Securities LLC lifted its position in EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC raised its position in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares during the period. World Investment Advisors LLC acquired a new position in shares of EOG Resources in the third quarter worth about $730,000. Oak Ridge Investments LLC raised its position in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after acquiring an additional 2,311 shares during the period. Finally, KBC Group NV raised its position in shares of EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after acquiring an additional 12,210 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG Resources stock opened at $130.59 on Tuesday. The firm has a 50 day simple moving average of $127.80 and a 200-day simple moving average of $127.31. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market cap of $73.45 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27.

EOG Resources declared that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred 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 completion of 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 trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Raymond James upped their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Mizuho decreased their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler boosted their target price on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $143.90.

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.