Edge Capital Group LLC Acquires 206 Shares of EOG Resources, Inc. (NYSE:EOG)

Edge Capital Group LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,639 shares of the energy exploration company’s stock after purchasing an additional 206 shares during the quarter. Edge Capital Group LLC’s holdings in EOG Resources were worth $1,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DRW Securities LLC boosted its position in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after purchasing an additional 13,324 shares in the last quarter. Caprock Group LLC raised its position in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares during the last quarter. World Investment Advisors LLC acquired a new stake in EOG Resources in the 3rd quarter worth approximately $730,000. Mountain Lake Investment Management LLC purchased a new stake in EOG Resources during the 4th quarter worth approximately $735,000. Finally, Oak Ridge Investments LLC increased its stake in EOG Resources by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 1.9 %

Shares of EOG Resources stock opened at $133.10 on Monday. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. The firm’s 50-day moving average price is $128.36 and its 200 day moving average price is $127.78. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $74.86 billion, a PE ratio of 10.72, a P/E/G ratio of 3.58 and a beta of 1.27.

EOG Resources declared that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOG. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Twelve 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. Based on data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus target price of $144.85.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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.