Sierra Ocean LLC Purchases Shares of 259 EOG Resources, Inc. (NYSE:EOG)

Sierra Ocean LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 259 shares of the energy exploration company’s stock, valued at approximately $32,000.

Several other large investors also recently made changes to their positions in the stock. Insight Inv LLC increased its holdings in shares of EOG Resources by 0.8% during 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 in the last quarter. Essex Financial Services Inc. grew its holdings in shares of EOG Resources by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock worth $753,000 after purchasing an additional 79 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of EOG Resources by 2.6% in the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after buying an additional 79 shares during the period. Rosenberg Matthew Hamilton increased 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 valued at $358,000 after buying an additional 84 shares during the period. Finally, Grove Bank & Trust increased 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 valued at $114,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $130.92 on Wednesday. The stock has a market capitalization of $73.63 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 3.36 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 stock’s 50 day moving average price is $127.82 and its two-hundred day moving average price is $127.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EOG shares. Raymond James upped 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. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler increased their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Twelve 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 company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

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.