Kentucky Retirement Systems Sells 538 Shares of EOG Resources, Inc. (NYSE:EOG)

Kentucky Retirement Systems lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,074 shares of the energy exploration company’s stock after selling 538 shares during the period. Kentucky Retirement Systems’ holdings in EOG Resources were worth $4,790,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DRW Securities LLC lifted its position in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC raised its position in EOG Resources by 7.7% in the 3rd 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 period. World Investment Advisors LLC bought a new stake in EOG Resources in the third quarter worth $730,000. Mountain Lake Investment Management LLC purchased a new stake in EOG Resources during the fourth quarter valued at about $735,000. Finally, Oak Ridge Investments LLC grew its stake in shares of 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 valued at $5,059,000 after buying an additional 2,311 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s 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 sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler increased their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Mizuho decreased their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Finally, Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.14.

EOG Resources Price Performance

Shares of NYSE EOG opened at $133.10 on Friday. The company has a 50 day simple moving average of $128.36 and a two-hundred day simple moving average of $127.71. EOG Resources, Inc. has a fifty-two week low of $109.06 and a fifty-two week high of $139.67. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 3.55 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.

EOG Resources declared that its Board of Directors has initiated a share buyback 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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.