Grimes & Company Inc. Boosts Holdings in EOG Resources, Inc. (NYSE:EOG)

Grimes & Company Inc. lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,948 shares of the energy exploration company’s stock after buying an additional 3,320 shares during the period. Grimes & Company Inc.’s holdings in EOG Resources were worth $18,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EOG. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the 3rd quarter worth $26,000. Decker Retirement Planning Inc. purchased a new position in EOG Resources during the 4th quarter worth $27,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources during the 3rd quarter worth $31,000. Finally, HM Payson & Co. grew its position in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EOG shares. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. 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 research note on Friday, January 3rd. Evercore ISI reduced their price objective on shares of 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, Piper Sandler reduced their price objective on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.86.

EOG Resources Stock Down 1.7 %

EOG Resources stock opened at $131.73 on Friday. The company has a 50-day simple moving average of $129.01 and a 200-day simple moving average of $127.35. The firm has a market capitalization of $74.09 billion, a P/E ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. 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, Inc. has a one year low of $108.94 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last announced its 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 firm had revenue of $5.97 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $3.44 EPS. As a group, equities analysts expect that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources declared that its board has approved a share repurchase 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 31.40%.

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.