J2 Capital Management Inc Takes Position in EOG Resources, Inc. (NYSE:EOG)

J2 Capital Management Inc bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,233 shares of the energy exploration company's stock, valued at approximately $396,000.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter worth $26,000. Decker Retirement Planning Inc. bought a new position in EOG Resources in the 4th quarter worth about $27,000. Eastern Bank purchased a new stake in EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources in the third quarter worth about $31,000. Finally, HM Payson & Co. lifted its stake in shares of EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company's stock worth $40,000 after buying an additional 220 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

Shares of EOG stock traded down $1.35 on Friday, hitting $136.70. 2,837,860 shares of the stock traded hands, compared to its average volume of 2,785,113. The firm has a market cap of $76.89 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29. 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 firm has a 50 day simple moving average of $128.96 and a two-hundred day simple moving average of $127.07. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

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 represents a $3.90 annualized dividend and a dividend yield of 2.85%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources's payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Piper Sandler lowered their price target on EOG Resources from $149.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, December 17th. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company raised EOG Resources from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $143.48.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company's stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

EOG Resources 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.