Affinity Wealth Management LLC Has $3.35 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Affinity Wealth Management LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,358 shares of the energy exploration company’s stock after selling 646 shares during the period. Affinity Wealth Management LLC’s holdings in EOG Resources were worth $3,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings 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 worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Fisher Asset Management LLC raised its holdings 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 purchasing an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EOG Resources in the 2nd quarter worth approximately $106,990,000. Assenagon Asset Management S.A. boosted its stake in shares of 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 purchasing an additional 593,823 shares during the last quarter. Finally, Legal & General Group Plc raised 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 buying an additional 403,676 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EOG. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Piper Sandler dropped their price objective on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Thirteen investment 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $143.86.

EOG Resources Trading Down 1.7 %

NYSE:EOG opened at $131.73 on Friday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The stock’s fifty day moving average price is $129.01 and its two-hundred day moving average price is $127.35. 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 company has a market cap 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.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.73 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter in the previous year, the firm earned $3.44 earnings per share. As a group, analysts expect that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources declared that its Board of Directors has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity 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 shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

About EOG Resources

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.