Bridges Investment Management Inc. Buys 16,407 Shares of EOG Resources, Inc. (NYSE:EOG)

Bridges Investment Management Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 367,279 shares of the energy exploration company’s stock after acquiring an additional 16,407 shares during the period. Bridges Investment Management Inc. owned approximately 0.07% of EOG Resources worth $45,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC lifted its position in EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in EOG Resources by 577.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after buying an additional 593,823 shares in the last quarter. Proficio Capital Partners LLC bought a new position in EOG Resources during the fourth quarter valued at approximately $60,284,000. Finally, Empower Advisory Group LLC raised its stake in shares of EOG Resources by 21,218.1% during the fourth quarter. Empower Advisory Group LLC now owns 352,602 shares of the energy exploration company’s stock worth $43,222,000 after acquiring an additional 350,948 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

EOG stock opened at $126.99 on Friday. 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 1 year low of $113.83 and a 1 year high of $139.67. The firm has a 50-day moving average of $129.30 and a 200 day moving average of $127.89. The company has a market cap of $71.43 billion, a P/E ratio of 10.22, a PEG ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. On average, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

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

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Finally, 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. Twelve 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.30.

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.