Welch & Forbes LLC Has $2.94 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Welch & Forbes LLC lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 2.0% during the fourth quarter, HoldingsChannel reports. The fund owned 23,943 shares of the energy exploration company’s stock after selling 482 shares during the quarter. Welch & Forbes LLC’s holdings in EOG Resources were worth $2,935,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after acquiring an additional 781,282 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Franklin Resources Inc. grew its position 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 worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. grew its position 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 worth $547,827,000 after purchasing an additional 214,497 shares in the last quarter. Finally, Yacktman Asset Management LP grew its position in EOG Resources by 10.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock worth $221,510,000 after purchasing an additional 168,723 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $125.41 on Friday. EOG Resources, Inc. has a 1 year low of $115.78 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $70.53 billion, a PE ratio of 10.10, a P/E/G ratio of 3.58 and a beta of 1.27. The company’s 50 day simple moving average is $129.50 and its two-hundred day simple moving average is $127.71.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is currently 34.73%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial upped their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup upped their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho reduced their price objective on shares of 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 price objective on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $145.80.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.