Wesbanco Bank Inc. Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Wesbanco Bank Inc. raised its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 59.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,795 shares of the energy exploration company's stock after buying an additional 38,642 shares during the period. Wesbanco Bank Inc.'s holdings in EOG Resources were worth $12,723,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DRW Securities LLC lifted its position in EOG Resources by 98.6% during the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock valued at $3,299,000 after acquiring an additional 13,324 shares during the period. Caprock Group LLC increased its stake 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 in the last quarter. World Investment Advisors LLC purchased a new position in shares of EOG Resources during the third quarter valued at approximately $730,000. Oak Ridge Investments LLC boosted its position in shares of 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 worth $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. grew its stake in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company's stock worth $1,370,000 after buying an additional 10,618 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Piper Sandler decreased their target price on shares of EOG Resources from $149.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. Wolfe Research upgraded shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Wells Fargo & Company upgraded shares of EOG Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Finally, Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $143.86.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were 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 directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % 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.

EOG Resources Stock Down 0.1 %

Shares of NYSE EOG traded down $0.11 during midday trading on Thursday, reaching $133.91. 3,003,123 shares of the company's stock traded hands, compared to its average volume of 3,303,316. The company has a market cap of $75.32 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 3.76 and a beta of 1.29. EOG Resources, Inc. has a one year low of $108.94 and a one year 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 stock's 50 day simple moving average is $129.09 and its 200-day simple moving average is $127.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $6.03 billion. During the same period last year, the business earned $3.44 EPS. On average, analysts predict that EOG Resources, Inc. will post 11.45 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.91%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources's dividend payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.