Emerald Advisors LLC Increases Position in EOG Resources, Inc. (NYSE:EOG)

Emerald Advisors LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,880 shares of the energy exploration company’s stock after buying an additional 291 shares during the quarter. Emerald Advisors LLC’s holdings in EOG Resources were worth $598,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the third quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its position in EOG Resources by 106.1% in the third quarter. Raleigh Capital Management Inc. now owns 470 shares of the energy exploration company’s stock valued at $58,000 after purchasing an additional 242 shares during the period. Foundations Investment Advisors LLC boosted its holdings in EOG Resources by 10.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,838 shares of the energy exploration company’s stock valued at $226,000 after purchasing an additional 178 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after purchasing an additional 3,251 shares during the period. Finally, Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $134.52 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $75.66 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. The company has a 50-day simple moving average of $128.05 and a 200-day simple moving average of $127.59. EOG Resources, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on EOG shares. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Raymond James increased their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Moderate Buy” and an average price target of $144.14.

Insiders Place Their Bets

In other EOG Resources 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 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 represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.30% of the stock is owned by corporate 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.