Ledyard National Bank Buys 12,993 Shares of EOG Resources, Inc. (NYSE:EOG)

Ledyard National Bank raised its stake in EOG Resources, Inc. (NYSE:EOG) by 90.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,318 shares of the energy exploration company’s stock after acquiring an additional 12,993 shares during the quarter. Ledyard National Bank’s holdings in EOG Resources were worth $3,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the period. Geode Capital Management LLC increased its position in EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares during the period. Franklin Resources Inc. lifted its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of EOG Resources by 3.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock valued at $326,247,000 after acquiring an additional 79,988 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EOG. Mizuho dropped their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $143.90.

EOG Resources Trading Down 1.1 %

NYSE EOG opened at $126.34 on Friday. EOG Resources, Inc. has a twelve month low of $109.06 and a twelve month high of $139.67. The business’s fifty day moving average is $128.07 and its 200 day moving average 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. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the business posted $3.44 earnings per share. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

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

EOG Resources Company 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.