EOG Resources, Inc. (NYSE:EOG) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,401 shares of the energy exploration company’s stock after selling 426 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in EOG Resources were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd raised its position in shares of EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $27,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 0.1 %

Shares of EOG stock opened at $128.94 on Friday. The stock has a 50-day simple moving average of $127.78 and a 200 day simple moving average of $127.38. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The stock has a market capitalization of $72.52 billion, a P/E ratio of 10.38, a P/E/G ratio of 3.36 and a beta of 1.27. 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 share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated 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 owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Bank of America reaffirmed a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $150.00 to $155.00 in a research report on Wednesday. Finally, Piper Sandler increased their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.