Rhumbline Advisers Sells 21,177 Shares of EOG Resources, Inc. (NYSE:EOG)

Rhumbline Advisers cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,054,725 shares of the energy exploration company’s stock after selling 21,177 shares during the period. Rhumbline Advisers’ holdings in EOG Resources were worth $129,288,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DRW Securities LLC raised its position in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after acquiring an additional 13,324 shares during the period. Caprock Group LLC increased its stake in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of EOG Resources in the third quarter worth $730,000. Oak Ridge Investments LLC increased its stake in shares of EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EOG. Piper Sandler increased their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Raymond James increased their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $155.00 in a report on Wednesday. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and a consensus target price of $144.14.

EOG Resources Price Performance

EOG stock opened at $129.40 on Friday. EOG Resources, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67. 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 company has a 50-day moving average price of $127.79 and a 200 day moving average price of $127.42. The stock has a market cap of $72.78 billion, a PE ratio of 10.42, a P/E/G ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its board has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents 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 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.