Proficio Capital Partners LLC Buys New Position in EOG Resources, Inc. (NYSE:EOG)

Proficio Capital Partners LLC bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 491,795 shares of the energy exploration company’s stock, valued at approximately $60,284,000. Proficio Capital Partners LLC owned 0.09% of EOG Resources as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Insight Inv LLC raised its position in EOG Resources by 0.8% during the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after buying an additional 75 shares during the period. Essex Financial Services Inc. raised its position in EOG Resources by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after buying an additional 79 shares during the period. Valmark Advisers Inc. raised its position in EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after buying an additional 79 shares during the period. Deseret Mutual Benefit Administrators raised its position in EOG Resources by 8.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after buying an additional 80 shares during the period. Finally, Advisor OS LLC raised its position in EOG Resources by 3.1% during the fourth quarter. Advisor OS LLC now owns 2,751 shares of the energy exploration company’s stock valued at $337,000 after buying an additional 82 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $130.55 on Friday. The business has a 50 day moving average price of $129.14 and a 200 day moving average price of $127.89. EOG Resources, Inc. has a twelve month low of $112.86 and a twelve month high of $139.67. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.58 and a beta of 1.27. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. Research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources announced that its Board of Directors has approved a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Piper Sandler upped their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Truist Financial upped their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Raymond James upped their target price on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.85.

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.