Meritage Portfolio Management Has $8.84 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Meritage Portfolio Management reduced its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,150 shares of the energy exploration company’s stock after selling 853 shares during the period. Meritage Portfolio Management’s holdings in EOG Resources were worth $8,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DRW Securities LLC raised its position in shares of 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 acquiring an additional 13,324 shares during the period. Caprock Group LLC raised its holdings in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the period. World Investment Advisors LLC bought a new position in shares of EOG Resources during the third quarter worth $730,000. Oak Ridge Investments LLC grew its holdings in shares of EOG Resources by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after buying an additional 2,311 shares during the period. Finally, KBC Group NV increased its position in shares of EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after buying an additional 12,210 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 1.5 %

NYSE EOG opened at $128.24 on Wednesday. The company has a market cap of $72.13 billion, a PE ratio of 10.33, a PEG ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a 50 day moving average of $128.18 and a 200-day moving average of $127.28. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 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 net margin of 29.18% and a return on equity of 23.77%. During the same quarter last year, the firm posted $3.44 EPS. On average, equities research analysts anticipate that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

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

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 31.40%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s 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 transaction, 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.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. Piper Sandler lifted their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a research note on Monday, January 6th. Finally, StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.