Yacktman Asset Management LP Buys 168,723 Shares of EOG Resources, Inc. (NYSE:EOG)

Yacktman Asset Management LP lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,807,065 shares of the energy exploration company’s stock after buying an additional 168,723 shares during the quarter. EOG Resources makes up approximately 2.6% of Yacktman Asset Management LP’s investment portfolio, making the stock its 16th biggest holding. Yacktman Asset Management LP’s holdings in EOG Resources were worth $221,510,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Franklin Resources Inc. grew its holdings in EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in EOG Resources by 577.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares during the period. Victory Capital Management Inc. raised its stake in EOG Resources by 42.8% in the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after buying an additional 333,947 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in EOG Resources by 1,003.6% during the 3rd quarter. Bridgewater Associates LP now owns 343,160 shares of the energy exploration company’s stock valued at $42,185,000 after acquiring an additional 312,064 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho reduced their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler increased their price target on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Bank of America reissued a “neutral” rating and set a $144.00 target price (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 lifted their price target for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.90.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were 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. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $130.59 on Tuesday. The company has a 50 day simple moving average of $127.80 and a two-hundred day simple moving average of $127.31. The stock has a market cap of $73.45 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.36 and a beta of 1.27. 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, Inc. has a 12 month low of $109.06 and a 12 month high of $139.67.

EOG Resources declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are 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.