Financial Partners Group LLC trimmed its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 39,999 shares of the energy exploration company’s stock after selling 158 shares during the period. EOG Resources accounts for about 2.0% of Financial Partners Group LLC’s investment portfolio, making the stock its 16th biggest position. Financial Partners Group LLC’s holdings in EOG Resources were worth $4,903,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in 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 worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC lifted its stake in EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in EOG Resources during the 2nd quarter valued at about $106,990,000. Assenagon Asset Management S.A. grew its position in EOG Resources by 577.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after acquiring an additional 593,823 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.
EOG Resources Trading Down 0.1 %
NYSE:EOG opened at $133.91 on Friday. The stock’s 50 day moving average price is $129.09 and its 200 day moving average price is $127.27. The company has a market capitalization of $75.32 billion, a PE ratio of 10.78, a P/E/G ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.91%. EOG Resources’s payout ratio is presently 31.40%.
EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Scotiabank reduced 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. Evercore ISI lowered their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, Raymond James increased their price target on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday. Thirteen investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.86.
Get Our Latest Stock Analysis on EOG Resources
Insider Transactions at EOG Resources
In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company 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.
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