Sabal Trust CO Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Sabal Trust CO grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 84.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,433 shares of the energy exploration company's stock after buying an additional 2,941 shares during the period. Sabal Trust CO's holdings in EOG Resources were worth $789,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DRW Securities LLC boosted its position in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock worth $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC lifted its stake in shares of EOG Resources by 7.7% during the 3rd 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 in the last quarter. World Investment Advisors LLC bought a new position in EOG Resources in the 3rd quarter worth $730,000. Mountain Lake Investment Management LLC purchased a new stake in EOG Resources in the 4th quarter worth $735,000. Finally, Oak Ridge Investments LLC raised its holdings in EOG Resources by 5.9% during the fourth 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 during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

EOG Resources Trading Down 2.8 %

NYSE EOG traded down $3.62 on Friday, hitting $126.99. 6,868,662 shares of the stock were exchanged, compared to its average volume of 2,926,389. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $113.83 and a 52-week high of $139.67. The firm has a market capitalization of $71.43 billion, a P/E ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27. The stock has a fifty day moving average price of $129.30 and a two-hundred day moving average price of $127.89.

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

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

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources's payout ratio is presently 31.40%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Wells Fargo & Company upgraded EOG Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. StockNews.com downgraded EOG Resources from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Piper Sandler lifted their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Benchmark restated a "hold" rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, 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. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.30.

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.