Western Pacific Wealth Management LP Increases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Western Pacific Wealth Management LP grew its stake in EOG Resources, Inc. (NYSE:EOG) by 54.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,701 shares of the energy exploration company’s stock after buying an additional 950 shares during the period. Western Pacific Wealth Management LP’s holdings in EOG Resources were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EOG. Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 1.5% in the 3rd 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. increased its position in shares of EOG Resources by 64.7% during the 3rd 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 last quarter. Pacer Advisors Inc. raised its holdings 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, Allspring Global Investments Holdings LLC lifted its position in EOG Resources by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,653,922 shares of the energy exploration company’s stock worth $326,247,000 after buying an additional 79,988 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

EOG has been the topic of several recent research reports. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Piper Sandler lifted their price objective on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.90.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value 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 accessible through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

EOG Resources Stock Performance

EOG Resources stock opened at $125.63 on Friday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock’s 50 day simple moving average is $128.37 and its two-hundred day simple moving average is $127.37. 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 has a market cap of $70.66 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.46 and a beta of 1.29.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.16. The company 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 period in the previous year, the company posted $3.44 earnings per share. As a group, analysts expect that EOG Resources, Inc. will post 11.46 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $0.975 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.10%. EOG Resources’s dividend payout ratio is currently 31.40%.

EOG Resources declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.