EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 643.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 290 shares of the energy exploration company’s stock after buying an additional 251 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in EOG Resources were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EOG. Franklin Resources Inc. raised its position in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of EOG Resources by 856.7% in 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 buying an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. increased its position 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 worth $85,389,000 after purchasing an additional 593,823 shares during the last quarter. Victory Capital Management Inc. increased its position in EOG Resources by 42.8% during 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 purchasing an additional 333,947 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in EOG Resources by 1,003.6% during the third 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 and hedge funds.

EOG Resources Trading Up 1.3 %

NYSE EOG opened at $132.32 on Wednesday. The firm has a 50 day simple moving average of $127.78 and a 200-day simple moving average of $127.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $109.06 and a one year high of $139.67. The firm has a market cap of $74.42 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 3.36 and a beta of 1.27.

EOG Resources announced that its board has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, 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 value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EOG shares. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler raised their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Truist Financial raised 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. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.90.

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.