Gries Financial LLC Acquires New Stake in EOG Resources, Inc. (NYSE:EOG)

Gries Financial LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,598 shares of the energy exploration company’s stock, valued at approximately $1,789,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources in the fourth quarter valued at about $27,000. Eastern Bank bought a new stake in EOG Resources in the third quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources in the third quarter valued at about $31,000. Finally, HM Payson & Co. raised its holdings in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Piper Sandler boosted their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Price Performance

NYSE:EOG opened at $130.23 on Thursday. The company has a fifty day moving average price of $128.82 and a 200 day moving average price of $127.41. 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, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock has a market cap of $73.25 billion, a P/E ratio of 10.49, a PEG ratio of 3.68 and a beta of 1.29.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating 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 firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the business posted $3.44 earnings per share. Analysts anticipate that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

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

EOG Resources declared that its board has authorized a stock buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the company’s 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 sale, the director now owns 43,532 shares in the company, 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 document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, 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. 0.20% of the stock is owned by corporate insiders.

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.