Summit Global Investments Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Summit Global Investments grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 26.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,311 shares of the energy exploration company’s stock after buying an additional 5,781 shares during the period. Summit Global Investments’ holdings in EOG Resources were worth $3,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in EOG Resources by 4.5% during the fourth 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 purchasing an additional 781,282 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Franklin Resources Inc. raised its position in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Pacer Advisors Inc. lifted its stake 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, Wealthfront Advisers LLC boosted its holdings in EOG Resources by 4,642.2% in the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after buying an additional 2,792,092 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $124.91 on Friday. The firm has a market capitalization of $69.19 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $115.78 and a 12 month high of $139.67. The business’s 50-day moving average price is $129.11 and its 200-day moving average price is $127.45.

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

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is presently 34.73%.

Insiders Place Their Bets

In other 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 value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of analyst reports. Barclays lowered their target price on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating on the stock in a report on Tuesday. Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. UBS Group decreased their price target on EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Finally, Morgan Stanley decreased their target price on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

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.