Resona Asset Management Co. Ltd. Takes $21.11 Million Position in EOG Resources, Inc. (NYSE:EOG)

Resona Asset Management Co. Ltd. purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 172,613 shares of the energy exploration company’s stock, valued at approximately $21,109,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of EOG Resources in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its stake in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares during the period. Mainstream Capital Management LLC purchased a new position in EOG Resources during the 4th quarter worth $25,000. Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources in the 4th quarter worth $27,000. Finally, Keystone Financial Group Inc. acquired a new position in shares of EOG Resources during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of analyst reports. Raymond James lifted their price objective on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Mizuho reaffirmed a “neutral” rating and set a $140.00 price objective (down previously from $148.00) on shares of EOG Resources in a report on Tuesday, March 25th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $150.00 to $155.00 in a report on Wednesday, February 12th. 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, Barclays reduced their price objective on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $110.39 on Friday. The company has a 50-day simple moving average of $127.14 and a 200-day simple moving average of $127.83. 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 company has a market cap of $60.88 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. EOG Resources, Inc. has a 12 month low of $109.20 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. On average, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 3.53%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

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.