Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in EOG Resources, Inc. (NYSE:EOG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,112 shares of the energy exploration company’s stock after buying an additional 10,910 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in EOG Resources were worth $14,601,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. DRW Securities LLC increased its position in shares of EOG Resources by 98.6% in the 3rd 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 last quarter. Caprock Group LLC raised its stake in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in EOG Resources during the 3rd quarter worth about $730,000. Oak Ridge Investments LLC boosted its position in shares of EOG Resources by 5.9% during the 4th 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 in the last quarter. Finally, KBC Group NV increased its holdings in shares of EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after acquiring an additional 12,210 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of a number of research analyst reports. KeyCorp lowered their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup increased their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Mizuho reduced their price target 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. Piper Sandler lifted their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Down 0.1 %

Shares of NYSE:EOG opened at $126.50 on Friday. The company has a market cap of $71.15 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The firm’s 50-day simple moving average is $127.93 and its 200-day simple moving average is $127.28. 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 (NYSE:EOG) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter in the previous year, the firm posted $3.44 EPS. As a group, equities research analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources announced that its board has authorized a share repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.