Grimes & Company Inc. Has $18.14 Million Position in EOG Resources, Inc. (NYSE:EOG)

Grimes & Company Inc. raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,948 shares of the energy exploration company’s stock after purchasing an additional 3,320 shares during the period. Grimes & Company Inc.’s holdings in EOG Resources were worth $18,136,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EOG. DRW Securities LLC lifted its holdings in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after acquiring an additional 13,324 shares during the period. Caprock Group LLC increased its stake in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of EOG Resources in the third quarter valued at $730,000. Oak Ridge Investments LLC increased its position in EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the period. Finally, University of Texas Texas AM Investment Management Co. increased its position 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 during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on EOG shares. Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho lowered their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler reduced their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Thirteen 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 MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $143.86.

EOG Resources Trading Down 1.7 %

Shares of EOG Resources stock opened at $131.73 on Friday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The stock has a market cap 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 quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $129.01 and its 200-day moving average is $127.35.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.03 billion. During the same quarter in the prior year, the business posted $3.44 EPS. Equities research analysts predict that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm 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. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend 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 31.40%.

EOG Resources announced that its board has authorized a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction 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 sale, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is 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.