Wealth Alliance Trims Holdings in EOG Resources, Inc. (NYSE:EOG)

Wealth Alliance cut its stake in EOG Resources, Inc. (NYSE:EOG) by 10.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,612 shares of the energy exploration company’s stock after selling 305 shares during the quarter. Wealth Alliance’s holdings in EOG Resources were worth $320,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners purchased a new position in shares of EOG Resources in the fourth quarter valued at $25,000. Y.D. More Investments Ltd grew its position in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources in the fourth quarter valued at $27,000. Keystone Financial Group Inc. bought a new stake in EOG Resources during the fourth quarter valued at $27,000. Finally, Eastern Bank bought a new stake in EOG Resources during the third quarter valued at $28,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the subject of several research analyst reports. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Piper Sandler lifted their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Raymond James lifted their price objective on 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, Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Thirteen 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. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average price target of $144.14.

EOG Resources Trading Down 1.9 %

Shares of EOG stock opened at $133.10 on Friday. The stock has a market capitalization of $74.86 billion, a PE ratio of 10.72, a P/E/G ratio of 3.55 and a beta of 1.27. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67. The business has a 50-day moving average of $128.36 and a 200 day moving average of $127.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.