Meridian Wealth Management LLC Cuts Position in EOG Resources, Inc. $EOG

Meridian Wealth Management LLC lowered its position in EOG Resources, Inc. (NYSE:EOG) by 94.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,823 shares of the energy exploration company’s stock after selling 30,400 shares during the quarter. Meridian Wealth Management LLC’s holdings in EOG Resources were worth $204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Sivia Capital Partners LLC purchased a new stake in shares of EOG Resources during the 2nd quarter worth $258,000. Simplicity Wealth LLC acquired a new stake in EOG Resources in the second quarter valued at $528,000. Valeo Financial Advisors LLC lifted its holdings in EOG Resources by 11.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,887 shares of the energy exploration company’s stock worth $585,000 after buying an additional 490 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth about $203,000. Finally, Shell Asset Management Co. increased its holdings in shares of EOG Resources by 15.8% in the 2nd quarter. Shell Asset Management Co. now owns 33,611 shares of the energy exploration company’s stock valued at $4,020,000 after acquiring an additional 4,586 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total transaction of $211,360.00. Following the completion of the sale, the chief operating officer directly owned 54,979 shares of the company’s stock, valued at $5,810,180.72. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EOG Resources in a report on Thursday, January 22nd. Piper Sandler set a $123.00 target price on shares of EOG Resources and gave the company a “neutral” rating in a report on Wednesday, January 28th. Jefferies Financial Group set a $140.00 price target on shares of EOG Resources in a research note on Wednesday, January 14th. Raymond James Financial reissued a “strong-buy” rating and issued a $153.00 price target on shares of EOG Resources in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $127.00 price objective (up previously from $126.00) on shares of EOG Resources in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average target price of $134.07.

EOG Resources Stock Performance

Shares of EOG stock opened at $114.59 on Thursday. The stock’s 50-day moving average price is $107.22 and its 200 day moving average price is $111.59. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $62.18 billion, a PE ratio of 11.41 and a beta of 0.49. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $135.87.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.89 EPS. As a group, equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.