EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 27.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,498 shares of the energy exploration company’s stock after purchasing an additional 43,197 shares during the period. Banque Pictet & Cie SA’s holdings in EOG Resources were worth $24,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in shares of EOG Resources in the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its holdings 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 acquiring an additional 121 shares during the period. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources during the 4th quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of EOG Resources during the 4th quarter valued at approximately $27,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EOG shares. Citigroup increased their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Piper Sandler raised their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Trading Up 0.1 %

Shares of EOG Resources stock opened at $128.94 on Friday. EOG Resources, Inc. has a 1-year low of $109.06 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market cap of $72.52 billion, a P/E ratio of 10.38, a P/E/G ratio of 3.36 and a beta of 1.27. The stock’s 50 day simple moving average is $127.78 and its 200-day simple moving average is $127.38.

EOG Resources declared that its board has approved a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.