LGT Fund Management Co Ltd. Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

LGT Fund Management Co Ltd. grew its position in EOG Resources, Inc. (NYSE:EOG) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,641 shares of the energy exploration company’s stock after buying an additional 689 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in EOG Resources were worth $3,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. HM Payson & Co. lifted its position in shares of EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after acquiring an additional 220 shares in the last quarter. Stephens Inc. AR lifted its position in EOG Resources by 5.3% during the third quarter. Stephens Inc. AR now owns 5,083 shares of the energy exploration company’s stock worth $625,000 after buying an additional 258 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in EOG Resources by 3.2% during the third quarter. Princeton Global Asset Management LLC now owns 26,214 shares of the energy exploration company’s stock worth $3,222,000 after buying an additional 807 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in EOG Resources by 4.9% during the third quarter. Clear Creek Financial Management LLC now owns 6,530 shares of the energy exploration company’s stock worth $803,000 after buying an additional 304 shares in the last quarter. Finally, Conning Inc. lifted its position in EOG Resources by 3.4% during the third quarter. Conning Inc. now owns 301,988 shares of the energy exploration company’s stock worth $37,123,000 after buying an additional 9,994 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EOG. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Truist Financial lifted their price objective on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Mizuho reduced their price objective 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. Barclays reduced their price objective on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and an average price target of $145.30.

Insiders Place Their Bets

In other EOG Resources 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 transaction 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 trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

EOG Resources Price Performance

EOG stock opened at $126.99 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $71.43 billion, a PE ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 12-month low of $113.83 and a 12-month high of $139.67. The business’s fifty day moving average price is $129.30 and its 200 day moving average price is $127.90.

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

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a yield of 3.07%. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication 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.