Transcend Capital Advisors LLC Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Transcend Capital Advisors LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 29.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,379 shares of the energy exploration company’s stock after purchasing an additional 1,212 shares during the quarter. Transcend Capital Advisors LLC’s holdings in EOG Resources were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EOG. Cassaday & Co Wealth Management LLC purchased a new stake in shares of EOG Resources in the 4th quarter worth $323,000. Compass Capital Corp MA ADV purchased a new stake in shares of EOG Resources in the 4th quarter worth $229,000. Cordatus Wealth Management LLC increased its position in EOG Resources by 5.5% in the fourth quarter. Cordatus Wealth Management LLC now owns 5,703 shares of the energy exploration company’s stock worth $699,000 after buying an additional 295 shares in the last quarter. ING Groep NV increased its position in EOG Resources by 99.0% in the fourth quarter. ING Groep NV now owns 151,337 shares of the energy exploration company’s stock worth $18,551,000 after buying an additional 75,292 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in EOG Resources by 8.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 7,703 shares of the energy exploration company’s stock worth $944,000 after buying an additional 600 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG Resources stock opened at $133.10 on Friday. The company’s 50-day moving average price is $128.36 and its 200-day moving average price is $127.75. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. The company has a market cap of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources declared that its board has authorized a share buyback plan 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 buy up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on EOG. Truist Financial increased their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Bank of America reiterated a “neutral” rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, Piper Sandler increased their price target on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Thirteen 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $144.14.

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.