Amalgamated Bank Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Amalgamated Bank trimmed its stake in EOG Resources, Inc. (NYSE:EOG) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,234 shares of the energy exploration company’s stock after selling 3,795 shares during the quarter. Amalgamated Bank’s holdings in EOG Resources were worth $13,267,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares in the last quarter. Geode Capital Management LLC increased its stake in EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Franklin Resources Inc. raised its holdings in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock worth $547,827,000 after buying an additional 214,497 shares in the last quarter. Finally, Yacktman Asset Management LP grew its holdings in shares of EOG Resources by 10.3% during the fourth quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock valued at $221,510,000 after buying an additional 168,723 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho dropped their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.85.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred 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 approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $131.23 on Wednesday. The stock has a market cap of $73.81 billion, a P/E ratio of 10.57, a P/E/G ratio of 3.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s fifty day moving average is $128.69 and its 200 day moving average is $127.86. EOG Resources, Inc. has a one year low of $111.13 and a one year high of $139.67.

EOG Resources declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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.