EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 5.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,388 shares of the energy exploration company’s stock after buying an additional 1,498 shares during the quarter. Meridian Wealth Management LLC’s holdings in EOG Resources were worth $3,725,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 75,194 shares during the period. Geode Capital Management LLC grew its holdings 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 valued at $1,513,446,000 after purchasing an additional 180,755 shares during the period. Franklin Resources Inc. grew its holdings 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. grew its holdings in shares of EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after purchasing an additional 214,497 shares during the period. Finally, Yacktman Asset Management LP grew its holdings in shares of EOG Resources by 10.3% in the fourth quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock valued at $221,510,000 after purchasing an additional 168,723 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $150.00 to $155.00 in a report on Wednesday, February 12th. Raymond James upped their price objective 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. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, Truist Financial increased their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Twelve equities research 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, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $145.80.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

EOG Resources Stock Down 5.2 %

Shares of EOG opened at $120.28 on Tuesday. The stock has a market capitalization of $67.65 billion, a PE ratio of 9.68, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $115.40 and a 1 year high of $139.67. 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 company’s 50-day simple moving average is $129.31 and its 200-day simple moving average is $127.85.

EOG Resources (NYSE:EOG) last issued its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. The firm 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%. Analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.24%. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

EOG Resources announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.