Proficio Capital Partners LLC Invests $60.28 Million in EOG Resources, Inc. (NYSE:EOG)

Proficio Capital Partners LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 491,795 shares of the energy exploration company's stock, valued at approximately $60,284,000. Proficio Capital Partners LLC owned about 0.09% of EOG Resources at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EOG. DRW Securities LLC boosted its position in shares of 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 purchasing an additional 13,324 shares in the last quarter. Caprock Group LLC lifted its stake in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock valued at $1,489,000 after buying 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 approximately $730,000. Mountain Lake Investment Management LLC acquired a new stake in shares of EOG Resources during the 4th quarter worth approximately $735,000. Finally, Oak Ridge Investments LLC increased 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 valued at $5,059,000 after acquiring an additional 2,311 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wolfe Research raised shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Barclays cut their price objective on shares of EOG Resources from $148.00 to $146.00 and set an "equal weight" rating on the stock in a research report on Friday. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Royal Bank of Canada upgraded EOG Resources from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Finally, Morgan Stanley decreased their price objective on EOG Resources from $143.00 to $142.00 and set an "equal weight" rating for the company in a report on Monday. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.80.

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $6.66 during trading hours on Monday, hitting $120.28. 7,430,946 shares of the company's stock traded hands, compared to its average volume of 3,038,530. The company has a fifty day simple moving average of $129.30 and a 200-day simple moving average of $127.90. 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 stock has a market capitalization of $67.65 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 12-month low of $115.40 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results 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. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.96 billion. Equities research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

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. This represents a $3.90 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources's dividend payout ratio is currently 31.40%.

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

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.