Cape ANN Savings Bank Cuts Position in EOG Resources, Inc. (NYSE:EOG)

Cape ANN Savings Bank lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,137 shares of the energy exploration company’s stock after selling 542 shares during the period. Cape ANN Savings Bank’s holdings in EOG Resources were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Colonial River Investments LLC grew its holdings in shares of EOG Resources by 12.5% in the 4th quarter. Colonial River Investments LLC now owns 2,841 shares of the energy exploration company’s stock worth $348,000 after acquiring an additional 316 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of EOG Resources by 382.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 20,266 shares of the energy exploration company’s stock valued at $2,484,000 after buying an additional 16,066 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of EOG Resources during the 4th quarter worth $123,000. MONECO Advisors LLC boosted its position in shares of EOG Resources by 12.5% in the 4th quarter. MONECO Advisors LLC now owns 1,884 shares of the energy exploration company’s stock worth $231,000 after buying an additional 209 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC purchased a new position in EOG Resources during the 4th quarter valued at about $988,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 1.9 %

Shares of NYSE:EOG opened at $133.10 on Monday. The stock has a 50-day simple moving average of $128.36 and a 200-day simple moving average of $127.78. The stock has a market capitalization of $74.86 billion, a P/E ratio of 10.72, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. 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 has authorized a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire 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.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on EOG shares. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial increased their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America reiterated a “neutral” rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.85.

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.