Ion Asset Management Ltd. Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Ion Asset Management Ltd. raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 150.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the energy exploration company’s stock after buying an additional 3,308 shares during the quarter. Ion Asset Management Ltd.’s holdings in EOG Resources were worth $674,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in shares of EOG Resources by 15.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,840 shares of the energy exploration company’s stock worth $226,000 after purchasing an additional 250 shares during the last quarter. Chelsea Counsel Co. boosted its stake in EOG Resources by 2.0% during the third quarter. Chelsea Counsel Co. now owns 5,215 shares of the energy exploration company’s stock worth $641,000 after buying an additional 100 shares during the last quarter. World Investment Advisors LLC purchased a new stake in EOG Resources in the 3rd quarter valued at $730,000. Wilmington Savings Fund Society FSB raised its holdings in shares of EOG Resources by 26.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 71,766 shares of the energy exploration company’s stock worth $8,822,000 after acquiring an additional 15,186 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of EOG Resources by 4.7% during the 3rd quarter. Tidal Investments LLC now owns 58,790 shares of the energy exploration company’s stock valued at $7,227,000 after acquiring an additional 2,634 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE EOG opened at $114.09 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $62.93 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The stock’s 50-day moving average is $120.10 and its two-hundred day moving average is $125.56. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last released its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.42%. EOG Resources’s payout ratio is 34.73%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

EOG has been the topic of a number of analyst reports. Susquehanna reduced their target price on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler lowered their price objective on EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. KeyCorp reduced their target price on EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $150.00 to $130.00 in a report on Friday, April 11th. Finally, Mizuho restated a “neutral” rating and issued a $140.00 price objective (down from $148.00) on shares of EOG Resources in a report on Tuesday, March 25th. Twelve equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.25.

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.