Parkside Investments LLC Has $7.51 Million Position in EOG Resources, Inc. (NYSE:EOG)

Parkside Investments LLC trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,279 shares of the energy exploration company’s stock after selling 5,450 shares during the period. Parkside Investments LLC’s holdings in EOG Resources were worth $7,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EOG. Franklin Resources Inc. boosted its position 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 worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EOG Resources in the second quarter valued at about $106,990,000. Assenagon Asset Management S.A. increased its holdings in shares of EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after acquiring an additional 593,823 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Scotiabank cut their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Truist Financial boosted their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.86.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $131.73 on Monday. The stock has a 50 day moving average of $129.01 and a 200-day moving average of $127.37. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a market capitalization of $74.09 billion, a P/E ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. 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 (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business earned $3.44 EPS. As a group, equities research analysts predict that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.96%. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its board has approved a share buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $483,560.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.