Cairn Investment Group Inc. Grows Position in EOG Resources, Inc. (NYSE:EOG)

Cairn Investment Group Inc. lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,849 shares of the energy exploration company’s stock after buying an additional 835 shares during the quarter. Cairn Investment Group Inc.’s holdings in EOG Resources were worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DRW Securities LLC lifted its holdings in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after buying an additional 862 shares in the last quarter. World Investment Advisors LLC purchased a new stake in EOG Resources during the third quarter valued at $730,000. Oak Ridge Investments LLC raised its stake in EOG Resources by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after purchasing an additional 2,311 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its stake in EOG Resources by 3,976.8% during 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EOG shares. Bank of America reaffirmed a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a research note on Monday, January 6th. Finally, Raymond James boosted their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $143.90.

EOG Resources Stock Down 0.0 %

NYSE:EOG opened at $130.23 on Thursday. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a 50-day moving average of $128.82 and a 200 day moving average of $127.41. The firm has a market cap of $73.25 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29. 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 released 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 net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the firm earned $3.44 earnings per share. As a group, research analysts anticipate that EOG Resources, Inc. will post 11.45 EPS for the current fiscal year.

EOG Resources Increases Dividend

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

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 shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated 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. The trade was 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 insiders.

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.