NewEdge Wealth LLC Increases Stock Position in EOG Resources, Inc. (NYSE:EOG)

NewEdge Wealth LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,627 shares of the energy exploration company's stock after buying an additional 11,825 shares during the period. NewEdge Wealth LLC's holdings in EOG Resources were worth $17,973,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Simmons Bank raised its holdings in EOG Resources by 17.9% during the 4th quarter. Simmons Bank now owns 11,044 shares of the energy exploration company's stock worth $1,354,000 after purchasing an additional 1,676 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in EOG Resources by 6.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 5,470 shares of the energy exploration company's stock valued at $671,000 after purchasing an additional 311 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in EOG Resources by 24.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 9,105 shares of the energy exploration company's stock valued at $1,116,000 after purchasing an additional 1,777 shares in the last quarter. Sabal Trust CO increased its stake in EOG Resources by 84.2% during the 4th quarter. Sabal Trust CO now owns 6,433 shares of the energy exploration company's stock valued at $789,000 after purchasing an additional 2,941 shares in the last quarter. Finally, National Pension Service boosted its holdings in EOG Resources by 0.3% during the 4th quarter. National Pension Service now owns 1,275,736 shares of the energy exploration company's stock worth $156,380,000 after acquiring an additional 4,140 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 2.8 %

EOG traded down $3.62 during trading on Friday, reaching $126.99. The stock had a trading volume of 6,868,662 shares, compared to its average volume of 2,926,389. EOG Resources, Inc. has a one year low of $113.83 and a one year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average is $129.30 and its two-hundred day moving average is $127.89. The company has a market capitalization of $71.43 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27.

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

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.07%. EOG Resources's payout ratio is 31.40%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

EOG has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Raymond James upped their price target on EOG Resources from $167.00 to $175.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company upgraded EOG Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Truist Financial upped their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised EOG Resources from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $145.30.

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.