Empire Life Investments Inc. Sells 14,885 Shares of EOG Resources, Inc. (NYSE:EOG)

Empire Life Investments Inc. decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 221,572 shares of the energy exploration company’s stock after selling 14,885 shares during the period. EOG Resources accounts for about 1.7% of Empire Life Investments Inc.’s portfolio, making the stock its 20th largest position. Empire Life Investments Inc.’s holdings in EOG Resources were worth $27,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. DRW Securities LLC lifted its stake in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC lifted its position in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of EOG Resources during the third quarter worth about $730,000. Oak Ridge Investments LLC increased 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 worth $5,059,000 after buying an additional 2,311 shares during the period. Finally, KBC Group NV increased its stake in EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the subject of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial lifted 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. Wells Fargo & Company raised 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. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and an average target price of $144.14.

EOG Resources Stock Up 0.3 %

Shares of EOG opened at $129.40 on Friday. The company has a market capitalization of $72.78 billion, a PE ratio of 10.42, a PEG ratio of 3.36 and a beta of 1.27. EOG Resources, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67. The stock’s 50-day moving average price is $127.76 and its two-hundred day moving average price is $127.39. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

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