EOG Resources, Inc. (NYSE:EOG) Shares Sold by LGT Group Foundation

LGT Group Foundation lowered its holdings in EOG Resources, Inc. (NYSE:EOG) by 29.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 68,500 shares of the energy exploration company’s stock after selling 28,843 shares during the quarter. LGT Group Foundation’s holdings in EOG Resources were worth $8,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in shares of EOG Resources by 64.7% during 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 purchasing an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC raised its holdings in EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares during the period. Assenagon Asset Management S.A. lifted its stake 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 valued at $85,389,000 after buying an additional 593,823 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of EOG Resources in the fourth quarter worth about $60,284,000. Finally, Empower Advisory Group LLC increased its position in shares of EOG Resources by 21,218.1% in the fourth quarter. Empower Advisory Group LLC now owns 352,602 shares of the energy exploration company’s stock worth $43,222,000 after acquiring an additional 350,948 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EOG. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Piper Sandler raised 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. Raymond James upped their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Barclays decreased their price objective on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Mizuho lowered their target price 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. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.30.

EOG Resources Price Performance

NYSE EOG opened at $126.99 on Monday. EOG Resources, Inc. has a fifty-two week low of $113.83 and a fifty-two week high of $139.67. The stock’s 50-day moving average is $129.30 and its two-hundred day moving average is $127.90. The firm has a market cap of $71.43 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.58 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 (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is currently 31.40%.

EOG Resources announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership 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 company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by company insiders.

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.