Allspring Global Investments Holdings LLC Cuts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Allspring Global Investments Holdings LLC decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,615,012 shares of the energy exploration company’s stock after selling 38,910 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.46% of EOG Resources worth $326,020,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EOG. 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 increased its position in shares of EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new position in EOG Resources in the 3rd quarter worth approximately $730,000. Oak Ridge Investments LLC lifted its position in EOG Resources by 5.9% in 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 acquiring an additional 2,311 shares in the last quarter. Finally, KBC Group NV boosted its stake in EOG Resources by 11.4% during the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EOG shares. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Bank of America reaffirmed a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Raymond James boosted their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

EOG Resources Trading Up 1.3 %

EOG opened at $132.32 on Wednesday. The stock has a 50-day moving average of $127.78 and a 200 day moving average of $127.34. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67. The firm has a market cap of $74.42 billion, a P/E ratio of 10.65, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its board has authorized a stock buyback 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 buy up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.