Gries Financial LLC Invests $1.79 Million in EOG Resources, Inc. (NYSE:EOG)

Gries Financial LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,598 shares of the energy exploration company's stock, valued at approximately $1,789,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. DRW Securities LLC lifted its stake in EOG Resources by 98.6% in 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 grew its holdings in EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock worth $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of EOG Resources in the third quarter valued at about $730,000. Oak Ridge Investments LLC boosted its stake 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 buying an additional 2,311 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its stake 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 worth $1,370,000 after purchasing an additional 10,618 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Citigroup upped their price target on EOG Resources from $127.00 to $134.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Mizuho cut their price target on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Piper Sandler raised their price objective on EOG Resources from $140.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday. Scotiabank decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, EOG Resources has a consensus rating of "Hold" and a consensus target price of $143.90.

EOG Resources Trading Down 0.7 %

Shares of EOG stock traded down $0.87 during trading hours on Thursday, reaching $129.36. 753,056 shares of the stock were exchanged, compared to its average volume of 3,028,538. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market capitalization of $72.76 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29. The company's 50-day moving average price is $128.70 and its 200-day moving average price is $127.43.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the prior year, the business posted $3.44 earnings per share. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. 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 3.01%. The ex-dividend date is Friday, January 17th. EOG Resources's payout ratio is currently 31.40%.

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.

Insider Transactions at EOG Resources

In related 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 completion of the sale, the chief operating officer now directly 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 legal filing with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the business's stock in a transaction that occurred on 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 directly owns 43,532 shares of the company's stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

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.