Tobam Buys Shares of 2,871 EOG Resources, Inc. (NYSE:EOG)

Tobam purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,871 shares of the energy exploration company’s stock, valued at approximately $352,000.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after acquiring an additional 75,194 shares during the period. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after purchasing an additional 180,755 shares during the last quarter. Franklin Resources Inc. grew its position in shares of 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 valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Pacer Advisors Inc. increased its stake in EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after purchasing an additional 214,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in EOG Resources by 3.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock worth $326,247,000 after buying an additional 79,988 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Citigroup upped their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.90.

EOG Resources Stock Performance

EOG Resources stock opened at $126.50 on Friday. EOG Resources, Inc. has a 12-month low of $109.06 and a 12-month 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 company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The firm’s fifty day moving average price is $127.93 and its 200 day moving average price is $127.28.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the company earned $3.44 earnings per share. On average, research analysts forecast that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are 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.