MOKAN Wealth Management Inc. Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

MOKAN Wealth Management Inc. acquired a new position in EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 13,429 shares of the energy exploration company’s stock, valued at approximately $1,645,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. DRW Securities LLC boosted 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 worth $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC boosted its position in shares of 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 buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of EOG Resources in the 3rd quarter worth about $730,000. Oak Ridge Investments LLC raised its stake 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 purchasing an additional 2,311 shares during the last quarter. Finally, KBC Group NV raised its stake in 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 purchasing an additional 12,210 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $129.40 on Friday. 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 $127.79 and its 200 day simple moving average is $127.42. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $72.78 billion, a P/E ratio of 10.42, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity 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 sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was 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 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 in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EOG shares. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Mizuho decreased their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $150.00 to $155.00 in a report on Wednesday. Truist Financial increased their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James increased their target price on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

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.