Pacer Advisors Inc. Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Pacer Advisors Inc. grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 5.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,469,142 shares of the energy exploration company’s stock after buying an additional 214,497 shares during the period. EOG Resources makes up 1.2% of Pacer Advisors Inc.’s portfolio, making the stock its 8th largest holding. Pacer Advisors Inc. owned approximately 0.79% of EOG Resources worth $547,827,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the third quarter valued at $26,000. Decker Retirement Planning Inc. bought a new position in EOG Resources during the 4th quarter valued at about $27,000. Eastern Bank purchased a new stake in EOG Resources in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources in the third quarter worth about $31,000. Finally, HM Payson & Co. boosted its position in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares during the period. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Down 1.7 %

EOG Resources stock opened at $131.73 on Monday. The business has a fifty day moving average price of $129.01 and a 200-day moving average price of $127.37. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The stock has a market capitalization of $74.09 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 3.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Equities research analysts forecast that EOG Resources, Inc. will post 11.45 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources announced that its Board of Directors has approved a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Bank of America reissued a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a research note on Monday, January 6th. Citigroup boosted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their price target on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $143.86.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated 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 owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

About EOG Resources

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.