Wedmont Private Capital Increases Position in EOG Resources, Inc. (NYSE:EOG)

Wedmont Private Capital boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,811 shares of the energy exploration company’s stock after acquiring an additional 924 shares during the quarter. Wedmont Private Capital’s holdings in EOG Resources were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. DRW Securities LLC boosted its position in EOG Resources by 98.6% in the 3rd 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 during the period. Caprock Group LLC raised its stake in shares of EOG Resources by 7.7% during the third 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 purchased a new stake in shares of EOG Resources in the third quarter valued at approximately $730,000. University of Texas Texas AM Investment Management Co. grew its stake in EOG Resources by 3,976.8% in the second 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 increased its holdings 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 worth $14,645,000 after purchasing an additional 12,210 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EOG shares. Piper Sandler lowered their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Bank of America restated a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a report on Monday. Thirteen equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $143.48.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 43,532 shares of the company’s stock, 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. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $134.51 on Tuesday. The company has a 50 day moving average price of $128.21 and a 200 day moving average price of $126.77. The firm has a market capitalization of $75.66 billion, a P/E ratio of 10.83, a PEG ratio of 3.37 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.