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

CIBC Asset Management Inc boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,545 shares of the energy exploration company’s stock after acquiring an additional 3,612 shares during the period. CIBC Asset Management Inc’s holdings in EOG Resources were worth $11,834,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EOG. Financial Life Planners acquired a new position in EOG Resources during the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources during the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. purchased a new stake in shares of EOG Resources during the fourth quarter worth $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of EOG opened at $130.92 on Wednesday. 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 market capitalization of $73.63 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. The firm has a 50-day simple moving average of $127.82 and a 200-day simple moving average of $127.48. 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 announced that its Board of Directors has approved a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Citigroup upped their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Truist Financial increased their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.14.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.