Bridges Investment Management Inc. Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Bridges Investment Management Inc. grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 367,279 shares of the energy exploration company's stock after buying an additional 16,407 shares during the period. Bridges Investment Management Inc. owned approximately 0.07% of EOG Resources worth $45,021,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. DRW Securities LLC boosted its stake in EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock worth $3,299,000 after acquiring an additional 13,324 shares in the last quarter. Caprock Group LLC raised its holdings 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 purchasing an additional 862 shares during the period. World Investment Advisors LLC bought a new position in shares of EOG Resources during the 3rd quarter worth about $730,000. Mountain Lake Investment Management LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $735,000. Finally, Oak Ridge Investments LLC increased its position in EOG Resources by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company's stock valued at $5,059,000 after buying an additional 2,311 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

NYSE EOG traded down $5.50 during trading hours on Monday, reaching $121.44. 4,371,557 shares of the company were exchanged, compared to its average volume of 2,958,852. The stock has a market capitalization of $68.30 billion, a P/E ratio of 9.78, a P/E/G ratio of 3.58 and a beta of 1.27. The business's 50 day simple moving average is $129.30 and its 200-day simple moving average is $127.90. 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, Inc. has a 1 year low of $115.40 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.19. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources declared that its Board of Directors has initiated a stock 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

EOG Resources Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.21%. EOG Resources's dividend payout ratio (DPR) is currently 31.40%.

Insider Buying and Selling

In other 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 approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on EOG. Barclays reduced their price objective on EOG Resources from $148.00 to $146.00 and set an "equal weight" rating for the company in a research note on Friday. Bank of America reissued a "neutral" rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Wolfe Research upgraded shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Piper Sandler lifted their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. 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 research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $145.80.

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.