EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its stake in EOG Resources, Inc. (NYSE:EOG) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,703 shares of the energy exploration company’s stock after purchasing an additional 600 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in EOG Resources were worth $944,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EOG. Sunpointe LLC bought a new position in shares of EOG Resources during the fourth quarter worth about $236,000. Ieq Capital LLC grew its holdings in EOG Resources by 44.4% in the 4th quarter. Ieq Capital LLC now owns 35,580 shares of the energy exploration company’s stock worth $4,361,000 after buying an additional 10,946 shares in the last quarter. Freedom Day Solutions LLC increased its holdings in shares of EOG Resources by 16.3% during the fourth quarter. Freedom Day Solutions LLC now owns 9,086 shares of the energy exploration company’s stock valued at $1,114,000 after purchasing an additional 1,272 shares during the period. Emerald Advisors LLC raised its position in shares of EOG Resources by 6.3% during the 4th quarter. Emerald Advisors LLC now owns 4,880 shares of the energy exploration company’s stock worth $598,000 after buying an additional 291 shares in the last quarter. Finally, Private Wealth Partners LLC raised its position in EOG Resources by 4.2% in the fourth quarter. Private Wealth Partners LLC now owns 4,950 shares of the energy exploration company’s stock worth $607,000 after acquiring an additional 200 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EOG shares. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Raymond James boosted their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, Bank of America reaffirmed a “neutral” rating and set a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.85.

EOG Resources Stock Performance

Shares of EOG opened at $133.10 on Monday. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The business has a fifty day moving average of $128.36 and a 200 day moving average of $127.78. 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 firm has a market capitalization of $74.86 billion, a P/E ratio of 10.72, a PEG ratio of 3.58 and a beta of 1.27.

EOG Resources announced that its Board of Directors has authorized 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 reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 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 trade represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources 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.