EOG Resources, Inc. (NYSE:EOG) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in EOG Resources, Inc. (NYSE:EOG) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 96,545 shares of the energy exploration company’s stock after acquiring an additional 3,612 shares during the quarter. CIBC Asset Management Inc’s holdings in EOG Resources were worth $11,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in EOG Resources by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 120,490 shares of the energy exploration company’s stock valued at $15,637,000 after purchasing an additional 379 shares during the period. Americana Partners LLC lifted its position in shares of EOG Resources by 238.3% during the 4th quarter. Americana Partners LLC now owns 5,145 shares of the energy exploration company’s stock valued at $631,000 after acquiring an additional 8,864 shares during the period. Baillie Gifford & Co. lifted its position in shares of EOG Resources by 103.6% during the 4th quarter. Baillie Gifford & Co. now owns 93,853 shares of the energy exploration company’s stock valued at $11,505,000 after acquiring an additional 47,754 shares during the period. Sierra Ocean LLC acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $32,000. Finally, Monument Capital Management lifted its position in shares of EOG Resources by 19.1% during the 4th quarter. Monument Capital Management now owns 3,168 shares of the energy exploration company’s stock valued at $388,000 after acquiring an additional 507 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Up 1.2 %

Shares of EOG opened at $130.92 on Wednesday. The firm has a market cap of $73.63 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. The company’s fifty day moving average is $127.82 and its two-hundred day moving average is $127.48. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. 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 declared that its board has authorized a stock buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EOG. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Bank of America reiterated a “neutral” rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Piper Sandler lifted 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. Finally, Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.14.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company 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.