Principal Financial Group Inc. Sells 13,369 Shares of EOG Resources, Inc. (NYSE:EOG)

Principal Financial Group Inc. reduced its stake in EOG Resources, Inc. (NYSE:EOG) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,433,072 shares of the energy exploration company’s stock after selling 13,369 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of EOG Resources worth $298,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Financial Life Planners bought a new stake in EOG Resources in the fourth quarter valued at $25,000. Y.D. More Investments Ltd lifted its holdings in shares of 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 acquiring an additional 121 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the 4th quarter worth about $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources during the 4th quarter worth about $27,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction 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. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $129.40 on Tuesday. The firm has a fifty day moving average of $127.79 and a two-hundred day moving average of $127.43. 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 has a market capitalization of $72.78 billion, a price-to-earnings ratio of 10.42, a PEG 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 of Directors has initiated a share buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EOG. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Citigroup boosted their target price on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Truist Financial raised their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

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.