Westover Capital Advisors LLC Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Westover Capital Advisors LLC lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,669 shares of the energy exploration company’s stock after selling 155 shares during the period. Westover Capital Advisors LLC’s holdings in EOG Resources were worth $1,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 boosted its holdings in shares of EOG Resources by 1.5% during the 3rd 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 buying an additional 180,755 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 valued at $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of EOG Resources by 5.0% during the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after buying an additional 214,497 shares in the last quarter. Finally, Yacktman Asset Management LP boosted its holdings in shares of EOG Resources by 10.3% during the 4th quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock valued at $221,510,000 after buying an additional 168,723 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EOG. Piper Sandler boosted their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial upped their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Morgan Stanley dropped their price target on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Twelve equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

Insider Activity

In related news, 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 value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

NYSE EOG opened at $120.28 on Tuesday. EOG Resources, Inc. has a 52 week low of $115.40 and a 52 week high of $139.67. The firm has a market capitalization of $67.65 billion, a P/E ratio of 9.68, a PEG ratio of 3.58 and a beta of 1.27. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $129.31 and a 200-day moving average price of $127.85.

EOG Resources (NYSE:EOG) last released its quarterly 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. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. Equities research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is currently 34.73%.

EOG Resources announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.