EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,882 shares of the energy exploration company’s stock after buying an additional 651 shares during the quarter. Van ECK Associates Corp’s holdings in EOG Resources were worth $4,766,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EOG. Franklin Resources Inc. lifted its holdings in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after buying an additional 1,075,334 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of EOG Resources by 1,003.6% during the third quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock valued at $42,185,000 after purchasing an additional 312,064 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EOG. Mizuho reduced their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Raymond James upped their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup upped their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $144.14.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $130.92 on Wednesday. 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 firm has a market cap of $73.63 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 3.36 and a beta of 1.27. The business’s 50-day simple moving average is $127.82 and its 200-day simple moving average is $127.48. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67.

EOG Resources announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.