Forvis Mazars Wealth Advisors LLC Acquires New Holdings in EOG Resources, Inc. (NYSE:EOG)

Forvis Mazars Wealth Advisors LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,060 shares of the energy exploration company’s stock, valued at approximately $988,000.

Several other hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC raised its stake in EOG Resources by 10.7% in the third quarter. Foundations Investment Advisors LLC now owns 1,838 shares of the energy exploration company’s stock valued at $226,000 after buying an additional 178 shares during the last quarter. Eastern Bank acquired a new position in shares of EOG Resources during the third quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in shares of EOG Resources in the 3rd quarter valued at approximately $32,860,000. Ballentine Partners LLC boosted its stake in EOG Resources by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 3,695 shares of the energy exploration company’s stock worth $454,000 after purchasing an additional 245 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its position in EOG Resources by 4.5% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,295 shares of the energy exploration company’s stock worth $405,000 after purchasing an additional 142 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EOG has been the subject of several research reports. Wolfe Research upgraded shares of 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. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their price target on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.85.

EOG Resources Price Performance

NYSE:EOG opened at $133.10 on Monday. 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, 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 $128.36 and its 200-day moving average price is $127.78. The stock has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources declared that its board has authorized a share buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.