Soltis Investment Advisors LLC Sells 1,108 Shares of EOG Resources, Inc. (NYSE:EOG)

Soltis Investment Advisors LLC decreased its position in EOG Resources, Inc. (NYSE:EOG) by 36.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,943 shares of the energy exploration company’s stock after selling 1,108 shares during the period. Soltis Investment Advisors LLC’s holdings in EOG Resources were worth $238,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Fisher Asset Management LLC increased its holdings in EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in EOG Resources by 577.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after acquiring an additional 593,823 shares during the period. Victory Capital Management Inc. boosted its position in EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after purchasing an additional 333,947 shares during the period. Finally, Bridgewater Associates LP boosted its position in EOG Resources by 1,003.6% during the third quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock worth $42,185,000 after purchasing an additional 312,064 shares during the period. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of 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. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup upped their price target 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. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Piper Sandler upped their price target on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Price Performance

EOG stock opened at $132.32 on Wednesday. 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 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. The firm’s fifty day moving average is $127.78 and its 200 day moving average is $127.34. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67.

EOG Resources declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors 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.