Fourpath Capital Management LLC Takes Position in EOG Resources, Inc. (NYSE:EOG)

Fourpath Capital Management LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,961 shares of the energy exploration company’s stock, valued at approximately $486,000.

A number of other institutional investors also recently bought and sold shares of EOG. Charles Schwab Investment Management Inc. boosted its stake in shares of EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the period. Geode Capital Management LLC boosted its position in shares of EOG Resources by 1.5% during the third 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 buying an additional 180,755 shares during the period. Franklin Resources Inc. grew its stake in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock worth $547,827,000 after buying an additional 214,497 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of EOG Resources by 3.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock worth $326,247,000 after acquiring an additional 79,988 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Transactions at EOG Resources

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. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated 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 sale, the director now owns 43,532 shares in the company, 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. Corporate insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

Shares of EOG opened at $126.41 on Tuesday. The business’s 50-day moving average is $128.37 and its two-hundred day moving average is $127.33. The company has a market capitalization of $71.10 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the company posted $3.44 earnings per share. Research analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

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

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $0.975 dividend. The ex-dividend date was Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EOG. 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 research note on Friday, January 3rd. Mizuho decreased their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. KeyCorp dropped their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Finally, Scotiabank dropped their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.90.

EOG Resources 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.