EOG Resources, Inc. (NYSE:EOG) Stock Position Raised by Fortem Financial Group LLC

Fortem Financial Group LLC lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,234 shares of the energy exploration company’s stock after purchasing an additional 164 shares during the period. Fortem Financial Group LLC’s holdings in EOG Resources were worth $1,132,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DRW Securities LLC lifted its stake in EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC lifted its position in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares in the last quarter. World Investment Advisors LLC acquired a new position in EOG Resources in the 3rd quarter worth approximately $730,000. University of Texas Texas AM Investment Management Co. grew its position in EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares in the last quarter. Finally, KBC Group NV raised its stake in EOG Resources by 11.4% during the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EOG shares. Piper Sandler lowered their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Mizuho dropped their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Citigroup upped their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, UBS Group lowered their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Stock Performance

EOG Resources stock traded down $0.46 on Monday, reaching $126.11. 1,979,790 shares of the stock were exchanged, compared to its average volume of 2,596,706. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a fifty day moving average price of $127.25 and a two-hundred day moving average price of $126.54. The stock has a market cap of $70.93 billion, a PE ratio of 10.15, a PEG ratio of 3.39 and a beta of 1.29.

EOG Resources announced that its board has authorized a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 31.40%.

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.