Resonant Capital Advisors LLC Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Resonant Capital Advisors LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 21,213 shares of the energy exploration company’s stock after purchasing an additional 367 shares during the period. Resonant Capital Advisors LLC’s holdings in EOG Resources were worth $2,600,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EOG. Charles Schwab Investment Management Inc. lifted its stake in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after buying an additional 75,194 shares in the last quarter. Geode Capital Management LLC raised its holdings in EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after acquiring an additional 180,755 shares during the last quarter. Franklin Resources Inc. raised its holdings in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after acquiring an additional 2,076,134 shares during the last quarter. Pacer Advisors Inc. raised its holdings in EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in EOG Resources by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock valued at $326,247,000 after acquiring an additional 79,988 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Down 3.2 %

EOG Resources stock opened at $125.63 on Monday. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a market capitalization of $70.66 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.33 and a beta of 1.27. The firm has a 50-day moving average price of $128.37 and a two-hundred day moving average price of $127.33. 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 (NYSE:EOG) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.03 billion. During the same period in the previous year, the firm earned $3.44 EPS. Sell-side analysts expect that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources declared that its board has initiated a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $0.975 dividend. 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 3.10%. The ex-dividend date was Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

Insider Activity at EOG Resources

In related 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 $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EOG has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Raymond James raised their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Scotiabank cut their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Thirteen equities research 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.com, EOG Resources presently has an average rating of “Hold” and a consensus target price 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.