Allstate Corp Makes New $2.07 Million Investment in EOG Resources, Inc. (NYSE:EOG)

Allstate Corp acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,896 shares of the energy exploration company’s stock, valued at approximately $2,071,000.

A number of other large investors have also modified their holdings of EOG. Insight Inv LLC increased its holdings in EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after buying an additional 75 shares during the period. Essex Financial Services Inc. raised its position in EOG Resources by 1.3% in the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock worth $753,000 after purchasing an additional 79 shares in the last quarter. Valmark Advisers Inc. lifted its stake in EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock worth $385,000 after purchasing an additional 79 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in EOG Resources by 8.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares in the last quarter. Finally, 1ST Source Bank raised its holdings in shares of EOG Resources by 1.5% in the 4th quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock worth $656,000 after buying an additional 80 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG opened at $126.55 on Friday. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 3.58 and a beta of 1.25. The business’s 50-day moving average price is $128.23 and its two-hundred day moving average price is $127.71. EOG Resources, Inc. has a 1 year low of $115.78 and a 1 year high of $139.67. 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 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 business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Equities analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal 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 given a dividend of $0.975 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.08%. EOG Resources’s dividend payout ratio (DPR) is presently 34.73%.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. Truist Financial boosted their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Raymond James lifted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup cut their target price on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average price target of $144.67.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following 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 represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

EOG Resources 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.