Meridian Wealth Management LLC Purchases 1,498 Shares of EOG Resources, Inc. (NYSE:EOG)

Meridian Wealth Management LLC grew its position in EOG Resources, Inc. (NYSE:EOG) by 5.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,388 shares of the energy exploration company’s stock after buying an additional 1,498 shares during the period. Meridian Wealth Management LLC’s holdings in EOG Resources were worth $3,725,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Life Planners bought a new stake in shares of EOG Resources in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its holdings in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. acquired a new stake in EOG Resources in the 4th quarter worth approximately $27,000. Finally, Capital Performance Advisors LLP purchased a new stake in EOG Resources during the 3rd quarter worth approximately $31,000. 89.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EOG has been the topic of several research analyst reports. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Barclays dropped their target price on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America reissued a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and an average target price of $145.80.

EOG Resources Stock Performance

EOG opened at $120.28 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 firm has a fifty day moving average price of $129.31 and a 200 day moving average price of $127.85. EOG Resources, Inc. has a 1 year low of $115.40 and a 1 year high of $139.67. The stock has a market cap of $67.65 billion, a P/E ratio of 9.68, a P/E/G ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.96 billion. Equities research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

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

Insiders Place Their Bets

In other EOG Resources 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 approximately $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 SEC, which is accessible through this hyperlink. 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.