Allspring Global Investments Holdings LLC Lowers Position in EOG Resources, Inc. (NYSE:EOG)

Allspring Global Investments Holdings LLC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,615,012 shares of the energy exploration company’s stock after selling 38,910 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EOG Resources were worth $326,020,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its position in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the third quarter valued at about $26,000. Decker Retirement Planning Inc. purchased a new position in EOG Resources in the fourth quarter valued at about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources in the fourth quarter worth about $27,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $132.32 on Wednesday. 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 firm has a fifty day moving average of $127.78 and a 200 day moving average of $127.34. The firm has a market cap of $74.42 billion, a PE ratio of 10.65, a PEG ratio of 3.36 and a beta of 1.27. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67.

EOG Resources announced that its board has initiated 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 purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on 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 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 filing with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s 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 completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EOG. Truist Financial lifted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $155.00 in a research report on Wednesday. Finally, Mizuho decreased their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.