Beese Fulmer Investment Management Inc. Sells 828 Shares of EOG Resources, Inc. (NYSE:EOG)

Beese Fulmer Investment Management Inc. trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,815 shares of the energy exploration company’s stock after selling 828 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in EOG Resources were worth $6,474,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Keystone Financial Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth $27,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of EOG Resources by 10.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,112 shares of the energy exploration company’s stock valued at $14,601,000 after acquiring an additional 10,910 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $1,675,000. Ledyard National Bank grew its stake in EOG Resources by 90.7% in the fourth quarter. Ledyard National Bank now owns 27,318 shares of the energy exploration company’s stock valued at $3,349,000 after acquiring an additional 12,993 shares during the period. Finally, Leo Wealth LLC acquired a new stake in EOG Resources in the 4th quarter valued at $567,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Scotiabank cut their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Raymond James boosted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. KeyCorp lowered their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.90.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred 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 $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

EOG Resources Stock Down 1.1 %

NYSE EOG opened at $126.34 on Friday. The company has a market capitalization of $71.06 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 3.33 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 $128.07 and its 200-day moving average price is $127.29. 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 (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm earned $3.44 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

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

EOG Resources 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.