Chevy Chase Trust Holdings LLC Buys 47,234 Shares of EOG Resources, Inc. (NYSE:EOG)

Chevy Chase Trust Holdings LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,117,765 shares of the energy exploration company’s stock after acquiring an additional 47,234 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.20% of EOG Resources worth $137,016,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. DRW Securities LLC grew its position in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the last quarter. Caprock Group LLC lifted its stake in EOG Resources by 7.7% during 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 during the last quarter. World Investment Advisors LLC bought a new stake in EOG Resources during the third quarter worth $730,000. Oak Ridge Investments LLC lifted its stake in EOG Resources by 5.9% during 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 during the last quarter. Finally, KBC Group NV lifted its stake in EOG Resources by 11.4% during 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 during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $128.94 on Friday. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The stock has a market cap of $72.52 billion, a price-to-earnings ratio of 10.38, a PEG 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 firm’s 50-day simple moving average is $127.78 and its 200 day simple moving average is $127.38.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EOG. Raymond James upped their target price 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. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $150.00 to $155.00 in a research note on Wednesday. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, Truist Financial increased their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.14.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by 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.