Eads & Heald Wealth Management Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

Eads & Heald Wealth Management grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,119 shares of the energy exploration company’s stock after purchasing an additional 1,855 shares during the period. Eads & Heald Wealth Management’s holdings in EOG Resources were worth $995,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources during the third quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources in the 4th quarter valued at about $27,000. Eastern Bank bought a new position in EOG Resources during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources in the 3rd quarter worth approximately $31,000. Finally, HM Payson & Co. grew its holdings 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 purchasing an additional 220 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EOG shares. Barclays decreased their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler lowered their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research 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 for the company in a report on Monday, September 30th. Scotiabank reduced their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Stock Down 0.4 %

NYSE:EOG opened at $136.09 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $76.54 billion, a P/E ratio of 10.96, a P/E/G ratio of 3.77 and a beta of 1.29. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a 50-day simple moving average of $129.04 and a two-hundred day simple moving average of $127.14.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results 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 net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the firm earned $3.44 earnings per share. Analysts predict that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.87%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 31.40%.

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

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.20% 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.