Burford Brothers Inc. Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Burford Brothers Inc. raised its position in EOG Resources, Inc. (NYSE:EOG) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,469 shares of the energy exploration company’s stock after purchasing an additional 396 shares during the period. Burford Brothers Inc.’s holdings in EOG Resources were worth $916,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EOG. Czech National Bank grew its stake in EOG Resources by 5.8% in the 3rd quarter. Czech National Bank now owns 115,848 shares of the energy exploration company’s stock worth $14,241,000 after acquiring an additional 6,331 shares during the period. Cullen Investment Group LTD. grew its position in shares of EOG Resources by 5.9% in the third quarter. Cullen Investment Group LTD. now owns 2,033 shares of the energy exploration company’s stock valued at $250,000 after purchasing an additional 114 shares during the period. GAMMA Investing LLC increased its stake in EOG Resources by 19.6% in the third quarter. GAMMA Investing LLC now owns 8,015 shares of the energy exploration company’s stock valued at $985,000 after purchasing an additional 1,316 shares during the last quarter. Diversified Trust Co lifted its position in EOG Resources by 60.1% during the third quarter. Diversified Trust Co now owns 9,573 shares of the energy exploration company’s stock worth $1,177,000 after buying an additional 3,595 shares during the period. Finally, Everpar Advisors LLC boosted its stake in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EOG. Truist Financial increased their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Citigroup upped their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. KeyCorp reduced their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $143.90.

EOG Resources Stock Performance

EOG Resources stock opened at $125.63 on Monday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $70.66 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 3.46 and a beta of 1.29. The stock has a 50 day moving average of $128.37 and a 200-day moving average of $127.37.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same period in the prior year, the firm posted $3.44 EPS. On average, analysts expect that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $0.975 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.10%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its board has initiated a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

EOG Resources Company 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.