Valmark Advisers Inc. Increases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Valmark Advisers Inc. boosted its position in EOG Resources, Inc. (NYSE:EOG) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,140 shares of the energy exploration company’s stock after purchasing an additional 79 shares during the period. Valmark Advisers Inc.’s holdings in EOG Resources were worth $385,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Insight Inv LLC raised its stake in shares of EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after buying an additional 75 shares during the period. Essex Financial Services Inc. raised its stake in shares of EOG Resources by 1.3% in the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock worth $753,000 after buying an additional 79 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of EOG Resources by 3.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock worth $358,000 after buying an additional 84 shares during the period. Grove Bank & Trust raised its stake in shares of EOG Resources by 10.0% in the fourth quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock worth $114,000 after buying an additional 84 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in shares of EOG Resources by 2.6% in the fourth quarter. Perigon Wealth Management LLC now owns 3,342 shares of the energy exploration company’s stock worth $410,000 after buying an additional 84 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EOG. Raymond James raised their price objective on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Mizuho decreased their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Citigroup lifted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $130.92 on Wednesday. The stock has a market cap of $73.63 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a 50 day moving average price of $127.82 and a 200-day moving average price of $127.48. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67.

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

Insider Transactions at EOG Resources

In other 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 value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.