Fenimore Asset Management Inc Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Fenimore Asset Management Inc reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 366,463 shares of the energy exploration company’s stock after selling 7,235 shares during the quarter. Fenimore Asset Management Inc’s holdings in EOG Resources were worth $44,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Insight Inv LLC raised its position in shares of EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares during the last quarter. Cape ANN Savings Bank raised its holdings in shares of EOG Resources by 0.9% in the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after acquiring an additional 79 shares during the last quarter. Everpar Advisors LLC lifted its position in shares of EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of EOG Resources by 3.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock valued at $358,000 after acquiring an additional 84 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of EOG Resources by 10.0% during the fourth quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock valued at $114,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EOG. Truist Financial upped their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Raymond James upped their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Piper Sandler reduced their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $150.00 price objective 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $143.86.

EOG Resources Stock Performance

Shares of EOG stock opened at $131.73 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $74.09 billion, a PE ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. The company’s fifty day simple moving average is $129.01 and its 200-day simple moving average is $127.35. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the company posted $3.44 earnings per share. As a group, equities research analysts anticipate that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. 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 dividend payout ratio is currently 31.40%.

EOG Resources announced that its board has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.