Avestar Capital LLC Buys 590 Shares of EOG Resources, Inc. (NYSE:EOG)

Avestar Capital LLC lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 22.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,184 shares of the energy exploration company’s stock after acquiring an additional 590 shares during the period. Avestar Capital LLC’s holdings in EOG Resources were worth $390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. Franklin Resources Inc. boosted its position in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of EOG Resources by 577.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after purchasing an additional 593,823 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of EOG Resources by 42.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after purchasing an additional 333,947 shares during the last quarter. Finally, Bridgewater Associates LP boosted its position in shares of EOG Resources by 1,003.6% in the 3rd quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock worth $42,185,000 after purchasing an additional 312,064 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In related 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 value of $483,560.00. Following the sale, the chief operating officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

EOG Resources Price Performance

NYSE:EOG opened at $129.40 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s 50-day simple moving average is $127.76 and its 200 day simple moving average is $127.39. The company has a market cap of $72.78 billion, a P/E ratio of 10.42, a P/E/G ratio of 3.36 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.

EOG Resources declared that its board has approved a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on EOG. Mizuho reduced their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Raymond James lifted their target price on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Bank of America reiterated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.14.

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.