Stonegate Investment Group LLC Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Stonegate Investment Group LLC decreased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,655 shares of the energy exploration company's stock after selling 11,955 shares during the quarter. Stonegate Investment Group LLC's holdings in EOG Resources were worth $9,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in EOG. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company's stock valued at $2,140,338,000 after buying an additional 75,194 shares during the period. Geode Capital Management LLC increased its stake in EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company's stock valued at $1,513,446,000 after acquiring an additional 180,755 shares during the period. Franklin Resources Inc. raised its position in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company's stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. lifted its stake in EOG Resources by 5.0% during the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company's stock worth $547,827,000 after purchasing an additional 214,497 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in EOG Resources by 3.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company's stock valued at $326,247,000 after purchasing an additional 79,988 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their target price on EOG Resources from $149.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Wells Fargo & Company upgraded shares of 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. Finally, StockNews.com upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EOG Resources currently has a consensus rating of "Hold" and an average target price of $143.86.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company's stock, valued at approximately $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.

EOG Resources Stock Performance

EOG Resources stock traded down $1.58 during trading hours on Tuesday, hitting $130.38. The company had a trading volume of 2,386,354 shares, compared to its average volume of 3,235,224. The firm has a 50-day moving average of $128.91 and a 200 day moving average of $127.40. The firm has a market cap of $73.33 billion, a PE ratio of 10.50, a PEG ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating 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 company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the business posted $3.44 EPS. On average, sell-side analysts expect that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.99%. EOG Resources's dividend payout ratio (DPR) is 31.40%.

EOG Resources announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

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.