EOG Resources, Inc. (NYSE:EOG) Stake Raised by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 27.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,579 shares of the energy exploration company’s stock after purchasing an additional 5,259 shares during the period. EOG Resources accounts for about 0.9% of Twelve Points Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Twelve Points Wealth Management LLC’s holdings in EOG Resources were worth $3,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the 4th quarter valued at about $27,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $31,000. Finally, HM Payson & Co. grew its holdings in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

EOG Resources Stock Down 1.2 %

Shares of NYSE EOG opened at $130.38 on Wednesday. The business has a 50-day moving average of $128.91 and a 200-day moving average of $127.40. The firm has a market capitalization of $73.33 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month 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.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS 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 for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the firm earned $3.44 EPS. Sell-side analysts expect that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EOG. KeyCorp lowered their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays reduced their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a research note on Monday, January 6th. Finally, Raymond James boosted their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Thirteen investment 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 stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $143.86.

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.