SVB Wealth LLC Invests $7.84 Million in EOG Resources, Inc. (NYSE:EOG)

SVB Wealth LLC bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 63,931 shares of the energy exploration company’s stock, valued at approximately $7,837,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOG. 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 valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Fisher Asset Management LLC raised its position in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares during the period. Assenagon Asset Management S.A. raised its position in EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after purchasing an additional 593,823 shares during the period. Proficio Capital Partners LLC purchased a new position in EOG Resources in the fourth quarter valued at about $60,284,000. Finally, Empower Advisory Group LLC increased its position in shares of EOG Resources by 21,218.1% during the fourth quarter. Empower Advisory Group LLC now owns 352,602 shares of the energy exploration company’s stock worth $43,222,000 after acquiring an additional 350,948 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho dropped their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Piper Sandler lifted their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Twelve investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.30.

EOG Resources Stock Down 2.8 %

NYSE:EOG opened at $126.99 on Friday. The firm has a market capitalization of $71.43 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The stock has a 50 day moving average of $129.30 and a 200-day moving average of $127.88. EOG Resources, Inc. has a 52 week low of $113.83 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.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

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.