Altus Wealth Group LLC Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

Altus Wealth Group LLC cut its stake in EOG Resources, Inc. (NYSE:EOG) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,656 shares of the energy exploration company’s stock after selling 190 shares during the quarter. Altus Wealth Group LLC’s holdings in EOG Resources were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares in the last quarter. Geode Capital Management LLC grew its stake in EOG Resources by 1.5% during 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 in the last quarter. Franklin Resources Inc. increased its holdings in EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares during the period. Pacer Advisors Inc. lifted its stake in EOG Resources by 5.0% in the 4th 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 in the last quarter. Finally, Wealthfront Advisers LLC lifted its stake in EOG Resources by 4,642.2% in the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after purchasing an additional 2,792,092 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EOG shares. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Citigroup cut EOG Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler cut their price objective on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company lowered their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Mizuho cut their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.86.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 2.4 %

Shares of EOG stock opened at $124.04 on Friday. 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 business has a 50-day moving average of $129.55 and a 200 day moving average of $127.61. The stock has a market capitalization of $68.71 billion, a PE ratio of 9.99, a P/E/G ratio of 3.58 and a beta of 1.25. EOG Resources, Inc. has a 1-year low of $115.78 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last released its quarterly earnings data 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 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 analyst estimates of $5.96 billion. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.14%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 34.73%.

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.