Stonegate Investment Group LLC Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Stonegate Investment Group LLC lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,655 shares of the energy exploration company’s stock after selling 11,955 shares during the quarter. Stonegate Investment Group LLC’s holdings in EOG Resources were worth $9,274,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. DRW Securities LLC increased its stake in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the period. Caprock Group LLC increased its position in shares of EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares during the period. World Investment Advisors LLC bought a new position in EOG Resources in the third quarter worth about $730,000. Oak Ridge Investments LLC grew its stake in EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the period. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after buying an additional 10,618 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $131.87 on Tuesday. 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. The firm has a fifty day simple moving average of $129.01 and a two-hundred day simple moving average of $127.37. The stock has a market capitalization of $74.17 billion, a P/E ratio of 10.62, a PEG ratio of 3.68 and a beta of 1.29.

EOG Resources (NYSE:EOG) last released its earnings results 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 firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $3.44 earnings per share. On average, analysts expect that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources declared that its board has initiated a stock buyback 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

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

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 of the company’s stock, valued at $5,891,185.56. This represents 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 currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp lowered 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 report on Wednesday, October 16th. Scotiabank decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Bank of America reissued a “neutral” rating and set a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Finally, Piper Sandler decreased their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $143.86.

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.