Empirical Finance LLC Sells 3,907 Shares of EOG Resources, Inc. (NYSE:EOG)

Empirical Finance LLC trimmed its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,744 shares of the energy exploration company’s stock after selling 3,907 shares during the quarter. Empirical Finance LLC’s holdings in EOG Resources were worth $2,420,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of EOG Resources by 5.6% in the fourth quarter. Empowered Funds LLC now owns 293,056 shares of the energy exploration company’s stock valued at $35,923,000 after acquiring an additional 15,518 shares during the period. Apollon Wealth Management LLC lifted its stake in EOG Resources by 2.8% in the 4th quarter. Apollon Wealth Management LLC now owns 26,065 shares of the energy exploration company’s stock worth $3,195,000 after purchasing an additional 711 shares in the last quarter. Vest Financial LLC boosted its holdings in EOG Resources by 27.7% in the 4th quarter. Vest Financial LLC now owns 274,169 shares of the energy exploration company’s stock valued at $33,608,000 after purchasing an additional 59,413 shares during the period. Cidel Asset Management Inc. grew its position in shares of EOG Resources by 10.9% during the 4th quarter. Cidel Asset Management Inc. now owns 4,748 shares of the energy exploration company’s stock valued at $582,000 after purchasing an additional 467 shares in the last quarter. Finally, Tobam bought a new position in shares of EOG Resources in the fourth quarter worth $352,000. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EOG shares. Truist Financial lifted their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America reiterated a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Raymond James boosted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler raised their price objective 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. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.90.

EOG Resources Stock Performance

NYSE:EOG opened at $126.50 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The business has a 50 day moving average price of $127.80 and a 200-day moving average price of $127.29. The firm has a market cap of $71.15 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same quarter last year, the firm earned $3.44 EPS. Equities research analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources announced that its Board of Directors has approved a share 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 often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $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.

EOG Resources Company 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.