Tobam Purchases New Position in EOG Resources, Inc. (NYSE:EOG)

Tobam acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,871 shares of the energy exploration company’s stock, valued at approximately $352,000.

Several other institutional investors have also modified their holdings of EOG. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after acquiring an additional 75,194 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after purchasing an additional 180,755 shares during the last quarter. Franklin Resources Inc. increased its position in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after purchasing an additional 214,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of EOG Resources by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock valued at $326,247,000 after purchasing an additional 79,988 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 0.1 %

Shares of NYSE EOG opened at $126.50 on Friday. The stock has a market capitalization of $71.15 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a 52 week low of $109.06 and a 52 week high of $139.67. The firm has a 50-day moving average price of $127.93 and a 200 day moving average price of $127.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period last year, the firm earned $3.44 EPS. Equities research analysts anticipate that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources announced that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes 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 board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on EOG. Raymond James boosted their price objective on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Citigroup raised their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $143.90.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources 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 approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on 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 owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

About EOG Resources

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.