Parsons Capital Management Inc. RI Lowers Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Parsons Capital Management Inc. RI lessened its stake in EOG Resources, Inc. (NYSE:EOG) by 14.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,652 shares of the energy exploration company’s stock after selling 277 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in EOG Resources were worth $203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EOG. DRW Securities LLC boosted its stake in EOG Resources by 98.6% during the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after purchasing an additional 13,324 shares during the last quarter. Caprock Group LLC raised its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares during the last quarter. World Investment Advisors LLC purchased a new position in EOG Resources in the 3rd quarter worth approximately $730,000. Oak Ridge Investments LLC boosted its holdings in shares of EOG Resources by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. grew its position in shares of EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after purchasing an additional 10,618 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of EOG opened at $130.38 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a market cap of $73.33 billion, a P/E ratio of 10.50, a PEG ratio of 3.68 and a beta of 1.29. The firm’s 50 day moving average price is $128.91 and its 200 day moving average price is $127.40.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data 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. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the company earned $3.44 earnings per share. On average, research analysts forecast that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources declared that its Board of Directors has approved a stock buyback plan 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 31.40%.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Mizuho lowered their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Piper Sandler reduced their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, Barclays reduced their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $143.86.

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.