QRG Capital Management Inc. Raises Position in EOG Resources, Inc. (NYSE:EOG)

QRG Capital Management Inc. boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 66.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,491 shares of the energy exploration company’s stock after buying an additional 38,373 shares during the period. QRG Capital Management Inc.’s holdings in EOG Resources were worth $11,828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of EOG Resources during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd raised its stake in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in EOG Resources during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new position in EOG Resources in the 4th quarter worth approximately $27,000. Finally, Capital Performance Advisors LLP bought a new position in shares of EOG Resources in the 3rd quarter worth $31,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Truist Financial upped their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Mizuho decreased 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. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and an average price target of $144.85.

EOG Resources Price Performance

Shares of EOG stock opened at $130.55 on Friday. 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 $112.86 and a fifty-two week high of $139.67. The firm has a market cap of $73.43 billion, a P/E ratio of 10.51, a P/E/G ratio of 3.58 and a beta of 1.27. The business’s 50 day moving average price is $129.14 and its 200-day moving average price is $127.89.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. On average, equities research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.