Princeton Global Asset Management LLC Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Princeton Global Asset Management LLC raised its stake in EOG Resources, Inc. (NYSE:EOG) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 26,792 shares of the energy exploration company’s stock after acquiring an additional 578 shares during the period. Princeton Global Asset Management LLC’s holdings in EOG Resources were worth $3,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in EOG Resources in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources during the fourth quarter worth about $27,000. Eastern Bank purchased a new position in EOG Resources during the third quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the third quarter valued at about $31,000. Finally, HM Payson & Co. boosted its holdings in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $125.63 on Monday. The business’s 50-day moving average price is $128.37 and its 200 day moving average price is $127.37. 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 company has a market capitalization of $70.66 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $3.44 EPS. On average, research analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 3.10%. EOG Resources’s payout ratio is presently 31.40%.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on EOG shares. KeyCorp reduced their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup raised their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Mizuho reduced their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a research report on Monday, January 6th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and an average price target of $143.90.

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.