Los Angeles Capital Management LLC Purchases 9,047 Shares of EOG Resources, Inc. (NYSE:EOG)

Los Angeles Capital Management LLC boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 40.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,148 shares of the energy exploration company’s stock after buying an additional 9,047 shares during the period. Los Angeles Capital Management LLC’s holdings in EOG Resources were worth $3,818,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC boosted its stake in EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares during the period. Assenagon Asset Management S.A. boosted its stake in EOG Resources by 577.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after buying an additional 593,823 shares during the period. Empower Advisory Group LLC increased its position in EOG Resources by 21,218.1% during the fourth quarter. Empower Advisory Group LLC now owns 352,602 shares of the energy exploration company’s stock valued at $43,222,000 after acquiring an additional 350,948 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of EOG Resources by 42.8% in the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after acquiring an additional 333,947 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EOG shares. 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. Piper Sandler boosted their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Raymond James increased their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Mizuho cut their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.85.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated 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 represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

EOG Resources Price Performance

NYSE EOG opened at $130.55 on Friday. The company has a market cap of $73.43 billion, a PE ratio of 10.51, a P/E/G ratio of 3.58 and a beta of 1.27. The firm’s 50 day moving average price is $129.14 and its 200-day moving average price is $127.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $112.86 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.96 billion. Sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

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

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.