Redwood Investment Management LLC Buys New Shares in EOG Resources, Inc. (NYSE:EOG)

Redwood Investment Management LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,240 shares of the energy exploration company’s stock, valued at approximately $3,707,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Brookstone Capital Management raised its stake in shares of EOG Resources by 105.5% in the fourth quarter. Brookstone Capital Management now owns 3,623 shares of the energy exploration company’s stock valued at $444,000 after purchasing an additional 1,860 shares in the last quarter. Eastern Bank increased its holdings in EOG Resources by 198.2% in the 4th quarter. Eastern Bank now owns 677 shares of the energy exploration company’s stock valued at $83,000 after buying an additional 450 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of EOG Resources by 4.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,018 shares of the energy exploration company’s stock valued at $1,105,000 after buying an additional 355 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of EOG Resources by 18.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,481 shares of the energy exploration company’s stock valued at $304,000 after buying an additional 392 shares in the last quarter. Finally, Marcum Wealth LLC lifted its holdings in shares of EOG Resources by 5.0% during the 4th quarter. Marcum Wealth LLC now owns 3,874 shares of the energy exploration company’s stock worth $475,000 after acquiring an additional 185 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the 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 transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

EOG Resources Stock Down 1.0%

NYSE:EOG opened at $115.52 on Thursday. The company has a market cap of $63.05 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 3.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s fifty day moving average price is $116.22 and its two-hundred day moving average price is $124.35. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 36.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Raymond James reissued a “strong-buy” rating and issued a $140.00 target price on shares of EOG Resources in a research note on Monday, April 21st. Mizuho lowered their price objective on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler dropped their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, KeyCorp dropped their price objective on EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.63.

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.