Chevy Chase Trust Holdings LLC Grows Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Chevy Chase Trust Holdings LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 4.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,117,765 shares of the energy exploration company’s stock after acquiring an additional 47,234 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in EOG Resources were worth $137,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of EOG. Financial Life Planners purchased a new position in EOG Resources in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd grew its stake in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources during the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources during the 4th quarter valued at $27,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of EOG Resources during the 4th quarter valued at $27,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on EOG shares. Piper Sandler boosted their price target on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Mizuho lowered 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 note on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $150.00 to $155.00 in a research note on Wednesday. Finally, Citigroup boosted their price target 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. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $128.94 on Friday. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67. The stock has a market capitalization of $72.52 billion, a P/E ratio of 10.38, a PEG ratio of 3.36 and a beta of 1.27. The firm has a fifty day simple moving average of $127.78 and a two-hundred day simple moving average of $127.38. 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 announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign 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.