Truist Financial Corp Trims Position in EOG Resources, Inc. (NYSE:EOG)

Truist Financial Corp cut its position in EOG Resources, Inc. (NYSE:EOG) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,632 shares of the energy exploration company’s stock after selling 2,359 shares during the period. Truist Financial Corp’s holdings in EOG Resources were worth $15,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC increased its holdings in EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after acquiring an additional 180,755 shares during the last quarter. Franklin Resources Inc. increased its holdings in 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 valued at $694,717,000 after acquiring an additional 2,076,134 shares during the last quarter. Pacer Advisors Inc. increased its holdings in EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in EOG Resources by 10.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock valued at $221,510,000 after acquiring an additional 168,723 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $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 at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EOG has been the topic of a number of research reports. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Raymond James lifted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Bank of America reiterated a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

EOG Resources Price Performance

EOG Resources stock opened at $134.52 on Thursday. The stock has a market cap of $75.66 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1 year low of $109.06 and a 1 year high of $139.67. The firm has a 50-day moving average of $128.05 and a two-hundred day moving average of $127.59.

EOG Resources announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.