Empirical Finance LLC Sells 3,907 Shares of EOG Resources, Inc. (NYSE:EOG)

Empirical Finance LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 16.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,744 shares of the energy exploration company’s stock after selling 3,907 shares during the quarter. Empirical Finance LLC’s holdings in EOG Resources were worth $2,420,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. DRW Securities LLC raised its holdings in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC raised its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares during the last quarter. World Investment Advisors LLC bought a new position in EOG Resources in the 3rd quarter valued at approximately $730,000. Oak Ridge Investments LLC boosted its stake in 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 valued at $5,059,000 after purchasing an additional 2,311 shares during 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 worth $14,645,000 after purchasing an additional 12,210 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 0.1 %

Shares of EOG stock opened at $126.50 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The company’s fifty day moving average price is $127.80 and its 200-day moving average price is $127.29. The company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.36 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.73 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate 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 business earned $3.44 earnings per share. Sell-side analysts expect that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Piper Sandler lifted their price target on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Citigroup lifted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $143.90.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on 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 directly owns 43,532 shares of the company’s stock, 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 the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.