Kestra Investment Management LLC Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Kestra Investment Management LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, Holdings Channel.com reports. The firm purchased 549 shares of the energy exploration company’s stock, valued at approximately $67,000.

Several other hedge funds have also made changes to their positions in EOG. Financial Life Planners acquired a new stake in shares of EOG Resources in the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in EOG Resources during the 4th quarter worth about $27,000. Keystone Financial Group Inc. purchased a new position in EOG Resources during the 4th quarter valued at about $27,000. Finally, Eastern Bank acquired a new position in shares of EOG Resources in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $133.10 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The company’s fifty day moving average price is $128.36 and its 200 day moving average price is $127.71. The company has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.55 and a beta of 1.27.

EOG Resources declared that its board has approved a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors 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 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 directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of several research reports. Bank of America restated a “neutral” rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Piper Sandler lifted their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Mizuho dropped their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $144.14.

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.