44 Wealth Management LLC Reduces Stake in EOG Resources, Inc. (NYSE:EOG)

44 Wealth Management LLC reduced its position in EOG Resources, Inc. (NYSE:EOG) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,288 shares of the energy exploration company’s stock after selling 692 shares during the period. 44 Wealth Management LLC’s holdings in EOG Resources were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its position in shares of EOG Resources by 10.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,838 shares of the energy exploration company’s stock worth $226,000 after purchasing an additional 178 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of EOG Resources by 44.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares during the last quarter. Eastern Bank purchased a new stake in shares of EOG Resources in the third quarter valued at $28,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of EOG Resources by 43.8% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,035 shares of the energy exploration company’s stock valued at $374,000 after acquiring an additional 924 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in EOG Resources during the 3rd quarter worth about $32,860,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

EOG stock opened at $133.10 on Friday. The stock has a 50-day simple moving average of $128.36 and a 200-day simple moving average of $127.71. The firm has a market cap of $74.86 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 3.55 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. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share buyback program 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent research reports. Mizuho lowered their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial increased 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. Thirteen research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.